Incyte Corporation (INCY) Believes Its Experimental Meds Are Undervalued: New CEO
2/21/2014 7:26:20 AM
Incyte Corp. (INCY), the cancer-drug maker whose shares have almost tripled since August, has unrecognized value in its experimental medicines that may fuel more growth than investors expect, its new chief executive officer said. Incyte surged from about $23 as investors bought on the potential for expansion of the company’s only approved medicine, Jakafi for the bone marrow disorder myelofibrosis, CEO Hervé Hoppenot said in his first interview since taking the helm in January. There’s also excitement about another experimental drug that harnesses the immune system to fight cancer, he said.
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