Incyte stock rises following EHA presentation acceptance

Investing.com -- Shares of Incyte (NASDAQ:INCY) climbed 7% today after the biopharmaceutical company announced that multiple presentations, including new late-breaking data for its monoclonal antibody INCA033989, have been accepted for presentation at the upcoming European Hematology Association (EHA) congress.

The company’s press release detailed that the late-breaking oral presentation will showcase findings from a trial of INCA033989, which targets mutant calreticulin (mutCALR) in patients with essential thrombocythemia (ET). The data is set to be presented at the EHA congress scheduled from June 12 to 15, 2025, in Milan.

Incyte’s president and head of research and development, Dr. Pablo J. Cagnoni, expressed optimism about the potential of INCA033989 as a disease-modifying agent for myeloproliferative neoplasms (MPNs) like ET. The company plans to host an in-person analyst and investor event to discuss the mutCALR data on Sunday, June 15, 2025.

In addition to INCA033989, Incyte will present data on various other programs within its hematology/oncology portfolio, including oral presentations on INCA035784, a T cell redirecting antibody, and clinical outcomes related to the use of Ruxolitinib for myelofibrosis with anemia. Poster presentations will cover a range of topics, such as the Phase 3 study of Axatilimab for chronic graft-versus-host disease and the efficacy of the BET protein inhibitor INCB057643 in myeloid neoplasms.

Investors have responded positively to the news, reflected in the stock’s upward movement.

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