Study data sends Incyte shares lower

Shares of Incyte dropped 15 percent Monday after the company released data from a mid-stage trial of Reverset, its once-a-day pill for treating HIV. The Wilmington, Delaware-based company said 54 percent of patients taking Reverset along with standard HIV drugs saw more than a 90 percent drop in the amount of the virus in their bloodstream after four months of treatment. That compared with 40 percent of those who experienced a similar drop in the virus after receiving a placebo along with their standard HIV treatment. The company said it plans to move ahead with Phase III trials later this year.

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