Incyte Corporation Class Action Lawsuit - INCY

The filed complaint alleges that Incyte Corporation made materially false and/or misleading statements and/or failed to disclose that: 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.

In order to be eligible to join the INCY class action lawsuit, you must have incurred a loss on shares of Incyte Corporation purchased during the class period listed above.