Incyte Corporation (NASDAQ:INCY) stock is trading lower on Tuesday after the company announced that data from its Phase 2 study does not support further development.
The Details: The company’s Phase 2 study evaluated MRGPRX4 in cholestatic pruritus, however, the data does not warrant further development.
In addition, Incyte announced that the company is pausing enrollment in its ongoing Phase 2 study of MRGPRX2 in chronic spontaneous urticaria. The decision was made after discovering some issues in early testing.
The company will work with the U.S. Food and Drug Administration to determine next steps.
How To Buy Incyte Shares
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Incyte's case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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INCY Price Action: At the time of writing, Incyte shares are trading 13.9% lower at $66.27, according to data from Benzinga Pro.
Image: Michal Jarmoluk from Pixabay
