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Incyte Corp. Is Heading Higher On Phase 3 Study Results

Incyte Corp. (INCY) announced positive results after the close Monday from COMFORT-I, the Phase III clinical trial of INCB18424 in patients with myelofibrosis. The stock is now up 0.82 on 132K shares.

Incyte Corp. traded in a range for the bulk of Monday's session and closed up by 0.16 at $15.18. The stock finished near the lower end of over a one-month range.

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First quarter growth data from China gained the maximum focus this week as trends in the massive emerging economy impact its trading partners. Elsewhere, the IMF released its latest global macroeconomic projections. Read our story to find out why comments from the Fed Chair Powell damped rate cut expectations. Meanwhile, there was some survey data that kindled hopes of a recovery in manufacturing. In the U.K., inflation data for March revealed some confusing trends.

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