Incyte Corp (INCY) Surges over 195 Percent in 2013 and Continues to Surge
Incyte Corp Ltd is a biopharmaceutical company that is in the business of discovering, developing and commercializing proprietary small molecule drugs to treat serious unmet medical needs.
With a market cap of $7.88B, the company's stock soared over 197% in 2013. In 2014, the stock continues to surge and is now up +285% since January of 2013.
A major reason that the shares have been on a tear has to do with its revolutionary drug Jakafi, which is the first and only FDA-approved drug for the treatment of Myelofibrosis (disorder of the bone marrow).
As competing drugs, such as Xeljanz and Fostamatinib, are discontinued or soon to come off-patent, Jakafi continues to extend its monopoly status.
If you have missed catching this train in 2013 then you may want to hold off hopping on it anytime soon.[newsletter1][/newsletter1]
Skeptics point to the fact that an expansion of Jakafi's patient universe may be a hard sell for the company and that the drug hasn't really shown a huge improvement in patient survival.
Additionally, competitors Geron and Sanofi are slated to bring out their versions of similar treatments shortly.