Analyst Writes Incyte's Opzelura Provides Deepening, Relapse Prevention; Povo Data Intriguing In Depigmented Skin Disorder

Incyte Corporation INCY announced new data from a Phase 2b trial of povorcitinib (INCB54707), an investigational oral JAK1 inhibitor, in adult patients with extensive nonsegmental vitiligo.
Results from the study demonstrate that treatment with oral povorcitinib was associated with substantial total body repigmentation, as measured by total Vitiligo Area Scoring Index (T-VASI) scores.
The study met its primary endpoint, and patients receiving povorcitinib experienced statistically superior improvements in T-VASI at Week 24 compared to placebo (povorcitinib 15 mg, –19.1%; 45 mg, –17.8%; 75 mg, –15.7% vs. placebo, +2.3%; least squares mean [LSM] difference).
William Blair writes that data for povorcitinib showed clear efficacy. Still, additional follow-ups are needed to determine a better go-forward dose and strategy to strike the best risk/reward profile.
Incyte also announced new 104-week results from the pivotal Phase 3 TRuE-V trial evaluating Opzelura (ruxolitinib) cream 1.5% in patients 12 years of age and older with nonsegmental vitiligo.
Many patients who achieved a high level of facial repigmentation could maintain a durable response for one year after discontinuing Opzelura treatment.
In patients who did not achieve near complete facial repigmentation at Week 52 and continued treatment with Opzelura, facial and total body repigmentation improvements were observed through Week 104.
The analyst writes that the American Academy of Dermatology meeting updates are unlikely to shift the near-term investor focus away from commercial execution on Opzelura.
William Blair reiterated its Outperform rating on the stock.
Price Action: INCY shares traded higher by 0.57% at $74.04 on the last check Monday.

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