Incyte announces achievement of $50 million in INCB18424 clinical trial

Incyte Corporation (NASDAQ: INCY) announced today the achievement of $50 million in milestones as part of the Incyte-Novartis collaboration and license agreement for INCB18424.

Under the terms of the agreement, the initiation by Incyte of the joint global Phase III clinical trial evaluating INCB18424 for the treatment of polycythemia vera has triggered the milestone payments to Incyte. This trial, also referred to as RESPONSE, is being conducted by Incyte in the United States (U.S.) and Novartis outside of the U.S.

Source: Incyte Corporation