Incyte signs option deal with Prelude for JH2 inhibitor initiative
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 04 2025
0mins
Should l Buy INCY?
Source: SeekingAlpha
Incyte and Prelude Agreement: Incyte has signed a deal with Prelude Therapeutics for an exclusive option license on Prelude's JAK2V617F JH2 inhibitor program, aimed at treating rare blood cancers, valued at up to $935 million.
Financial Details: Prelude will receive a $35 million upfront payment, $25 million in strategic investments, and potential milestone payments totaling $775 million, along with royalties on future sales.
Program Development: The JAK2V617F JH2 inhibitor is in development for myeloproliferative neoplasms, with Prelude set to present preclinical data at the upcoming American Society of Hematology Annual Meeting.
Prelude's Strategic Shift: Prelude will focus on developing its KAT6A degrader for ER+ breast cancer while pausing its SMARCA2 degrader programs, leading to a significant drop in its stock price by approximately 48% in premarket trading.
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Analyst Views on INCY
Wall Street analysts forecast INCY stock price to fall
19 Analyst Rating
9 Buy
9 Hold
1 Sell
Moderate Buy
Current: 100.750
Low
73.00
Averages
100.31
High
125.00
Current: 100.750
Low
73.00
Averages
100.31
High
125.00
About INCY
Incyte Corporation is a biopharmaceutical company, which is focused on the discovery, development, and commercialization of therapeutics. The Company operates in two therapeutic areas. One therapeutic area is Hematology/Oncology, which is comprised of Myeloproliferative Neoplasms and Graft-Versus-Host Disease, as well as solid tumors and hematologic malignancies. Its other therapeutic area is Inflammation and Autoimmunity, which includes its Dermatology commercial franchise. Its hematology and oncology franchise are comprised of six products, which are JAKAFI (ruxolitinib), MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab), PEMAZYRE (pemigatinib), ICLUSIG (ponatinib), NIKTIMVO (axatilimab-csfr), and ZYNYZ (retifanlimab-dlwr), as well as numerous clinical development programs. The Company's pipeline also includes two first-in-class small molecule antagonist of Mas-related G protein-coupled receptor (MRGPRX2) and INCB000547, an oral MRGPRX4 antagonist.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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