NEW YORK, NY / ACCESSWIRE / November 1, 2017 / Incyte shares closed in the green, albeit with a modest gain, considering that the company had some great news and reported third-quarter results that beat estimates. The company will collaborate with AstraZeneca in a trial combining Incyte's IDO1 enzyme inhibitor with AstraZeneca's Imfinzi vs. Imfinzi alone. Shares of Array closed in the red despite beating on both the top and bottom line in its first-quarter financial report.

RDI Initiates Coverage on:

Incyte Corporation
http://www.rdinvesting.com/report/?ticker=INCY

Array BioPharma Inc.
http://www.rdinvesting.com/report/?ticker=ARRY

Incyte Corporation shares closed down a modest 0.87% on Tuesday with nearly 2.2 million shares traded. It was a good day for the biotech stock as the company reported its third-quarter financial report that beat estimates. Adjusted income of 17 cents per share on sales of $381.53 million was better than the 6 cents and $360 million in sales that Wall Street was waiting for. The company has also agreed to partner up with AstraZeneca in a lung cancer trial that will test Incyte's investigational selective IDO1 enzyme inhibitor with AstraZeneca's Imfinzi vs. Imfinzi alone. According to Leerink analyst Michael Schmidt, the phase 3 trial is expected to begin enrolling in the first half of 2018.

Access RDI's Incyte Corporation Research Report at:
http://www.rdinvesting.com/report/?ticker=INCY

Array BioPharma Inc. shares closed down 1.97% on Tuesday with nearly 5.4 million shares traded. Wall Street didn't seem too thrilled with the company's first-quarter results despite the company beating on both the top and bottom line. The biopharmaceutical company reported a loss of 22 cents per share which was in line with what analysts were expecting. Revenue at $29.7 million was also way higher than the $22.3 million that analysts waited for. The company also revealed that binimetinib and encorafenib submissions are under review at FDA and EMA. It was in September that the FDA accepted for review Array's NDAs to support use of the combination of binimetinib 45 mg twice daily and encorafenib 450 mg once daily (COMBO450) for the treatment of patients with BRAF-mutant advanced, unresectable or metastatic melanoma. Company CEO Ron Squarer commented, "We look forward to supporting the FDA and EMA reviews of the submissions for binimetinib and encorafenib. The robust progression free survival benefit together with the attractive tolerability profile demonstrated in COLUMBUS suggest the combination represents a potentially important addition to the MEK/BRAF treatment landscape for patients with BRAF-mutant melanoma. We continue to build our team to support potential commercialization in 2018." Shares of the stock have gained about 18% this year so far.

Access RDI's Array BioPharma Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=ARRY

Our Actionable Research on Incyte Corporation (NASDAQ: INCY) and Array BioPharma Inc. (NASDAQ: ARRY) can be downloaded free of charge at Research Driven Investing.

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