Incyte ($INCY) took a nasty hit on its share price today after it reported that a combo study of Jakafi (ruxolitinib) and regorafinib (Bayer's Stivarga) failed a Phase II study on colorectal cancer. An interim analysis of the data concluded that the trial was a flop and analysts concluded that the risk of failure for pancreatic cancer, as well solid tumors in general, has gone up considerably. Incyte's shares dropped about 10% on the news. Not all analysts are so bearish, but in today's bear market for biotech stocks bad news is heavily amplified. Release