Incyte Discontinues Five Early-Stage Oncology Programs in Pipeline Refocus

1. Program Cuts: Incyte has discontinued five early-stage oncology programs, including two oral PD-L1 inhibitors, as part of a strategic review of its pipeline.
2. Reason for Cuts: The cuts are aimed at refocusing the company's R&D efforts on more promising areas, such as inflammation, dermatology, and rare blood cancers.
3. Affected Programs: The discontinued programs include two checkpoint inhibitors targeting PD-L1, two antibodies from a partnership with Agenus, and a bispecific antibody developed with Merus.
4. Prioritization: Incyte will continue to invest in oncology, focusing on targeted small molecule drugs and a bispecific antibody aimed at two immune cell pathways.
5. Business Impact: The company's business remains heavily dependent on Jakafi, a drug approved for myelofibrosis, polycythemia vera, and graft-versus-host disease, with net product revenues of $1.28 billion in the first half of the year.