NEW YORK, NY / ACCESSWIRE / November 19, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Incyte Corporation ("Incyte Corporation") (NASDAQ:INCY) concerning possible violations of federal securities laws.
On November 18, 2024, INCY announced it will pause enrollment in the Phase 2 study of its drug INCB000262 in chronic spontaneous urticaria (CSU) due to "the observation of certain in vivo preclinical toxicology findings." The Company also announced the discontinuation of the development of its drug INCB000547 for patients with cholestatic pruritus (CP).
Both of these drugs stem from Incyte's $750 million acquisition of Escient Pharmaceuticals earlier this year.
Following this news, Incyte's stock price fell by $9.05 per share, or approximately 12% to close at $67.92 per share. To obtain additional information, go to:
https://zlk.com/pslra-1/incyte-corporation-lawsuit-submission-form?prid=112651&wire=1
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212)363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
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Joseph E. Levi, Esq.
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SOURCE: Levi & Korsinsky, LLP