Incyte tumbles after epacadostat miss

Incyte Corp. (NASDAQ:INCY) fell $19.05 (23%) to $64.02 on Friday after the company and partner Merck & Co. Inc. (NYSE:MRK) said epacadostat plus Merck’s anti-PD-1 mAb Keytruda pembrolizumab missed the primary endpoint in the Phase III ECHO-301/KEYNOTE-252 trial as first-line treatment of unresectable or metastatic melanoma. The move translates to a loss in Incyte's market cap of about $4 billion.

Incyte's epacadostat is an indoleamine 2,3-dioxygenase 1 (IDO1) inhibitor (see BioCentury, June 16, 2017)...