Incyte is enjoying a bit of bounce today, challenging a tough resistance level. It seems to be doing so on publication in NEJM of further details of the RA-Beacon trial. My links in the reference post seem to have died, so here's an overview of the results as presented at EULAR last summer.
RA-Beacon EULAR
So far as I can tell most of the data in NEJM recapitulate this.
Baracitinib NEJM
However, what I have not seen to date is the HAQ-DI data - favorable, but minor - and the discontinuation data (oddly, seems only to be in the press release, not the article), which also looks pretty benign.
In other words, this seems like mostly old news, and I am not seeing anything new that would justify the 6% pop, except an overdue bit of bio-exuberance in the markets today.
Am I missing something? Is the discontinuation data enough justification for 6%?
Cheers, Tuck |
