Incyte announced on Jul. 29 that it is discontinuing development of its early-stage experimental JAK inhibitor, INCB160058, in order to concentrate research and development efforts on next-generation therapies. The company said the decision was made after evaluating the asset’s pharmacokinetic, efficacy, and safety profile compared to other programs in its pipeline.
William Blair told investors that while the move was unfortunate, it was largely expected due to previous comments from Incyte regarding the drug candidate’s poor pharmacokinetic profile. "We believe Incyte’s post-Jakafi growth profile is improving with pipeline advancements," analysts at William Blair said.
INCB160058 was an orally available blocker of the JAK2 protein designed for patients with myeloproliferative neoplasms carrying the V617F mutation. Before being discontinued, it was undergoing a Phase 1 study that began in August 2024 and had been recruiting participants as recently as May. The primary readout for this trial had been scheduled for late 2028.
Pablo Cagnoni, global head of research and development at Incyte, addressed investors about the decision: "It just made no sense to continue to develop" INCB160058 after reviewing its performance relative to other assets in their portfolio.
The company reported nearly $1.49 billion in net sales during the second quarter—a 40% increase over last year—with Jakafi remaining its top-selling product at $816 million for Q2 earnings. Growth was also driven by Opzelura cream for eczema, which saw a 173% rise in sales reaching almost $450 million following European approval for moderate atopic dermatitis earlier this week. Other products such as Monjuvi and Niktimvo contributed significant year-on-year increases as well.
With key market protections for Jakafi set to expire in late 2028, attention has shifted toward Incyte's pipeline candidates like INCA033989 (for myelofibrosis) and INCB161734 (a KRAS G12D blocker), both currently under clinical investigation with data expected later this year or ongoing trials launched recently.
