SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Incyte Corporation - INCY

NEW YORK, April 19, 2023

The investigation concerns whether Incyte and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

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On March 23, 2023, Incyte issued a press release "announc[ing] that the U.S. Food and Drug Administration (FDA) has issued a complete response letter for ruxolitinib extended-release (XR) tablets, a JAK1/JAK2 inhibitor, for once-daily (QD) use in the treatment of certain types of myelofibrosis (MF), polycythemia vera (PV) and graft-versus-host disease (GVHD)."  Incyte stated that "[t]he complete response letter states that the FDA cannot approve the application in its present form.  The FDA acknowledged that the study submitted in the New Drug Application (NDA) met its objective of bioequivalence based on area under the curve (AUC) parameters but identified additional requirements for approval.  Incyte intends to meet with the FDA to determine appropriate next steps."  

On this news, Incyte's stock price fell $2.03 per share, or 2.81%, to close at $70.23 per share on March 24, 2023.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.