Why Incyte Stock Was Tanking This Week

A less-than-encouraging clinical trial for an investigative medicine was the news driving down Incyte (INCY 2.28%) stock over the past few days. The gloom this produced was pushing the biotech's share price down by nearly 11% week to date as of Friday before market open.Clinical trials for investigational skin disorder drug fell shortOn Monday, Incyte published the top-line results from two phase 3 trials of its povorcitinib, a treatment aimed at combating moderate to severe hidradenitis suppurativa (HS), a ...