Incyte Stock Falls Despite FDA Breakthrough Therapy Fast Track For Rare Blood Cancer Drug

Incyte (INCY) said Sunday that the Food and Drug Administration has granted Breakthrough Therapy designation to its experimental treatment for a rare blood cancer. The biotech also released updated Phase 1 trial results for the drug. Incyte stock fell solidly early Monday. Incyte’s INCA033989 is an experimental monoclonal antibody to treat a specific form of essential thrombocythemia, a rare blood…