Incyte Stock Slumps After Firm Scraps Drug, Pauses Enrollment in Other Study

KEY TAKEAWAYSIncyte led S&P 500 decliners Tuesday afternoon after the pharmaceutical firm said it will stop developing one drug and pause enrollment in the study of another.Enrollment in the ongoing Phase 2 trial of a drug to treat chronic spontaneous urticaria (CSU), or chronic hives, was paused.The biopharmaceutical firm also said it won't develop the drug to treat cholestatic pruritus (CP), a liver disorder that causes intense itching. Incyte (INCY) led S&P 500 decliners Tuesday afternoon after the pharm ...