ACSO abstract drop moves stocks

|By:, SA News Editor

The scrutiny over abstracts submitted for the upcoming (May 30 - June 3) American Society of Clinical Oncology meeting boosts Clovis Oncology (CLVS8% premarket but shaves Incyte (INCY10%.

Traders are selling INCY on modest volume apparently in response to its abstract on ruxolitinib with capecitabine as a second-line therapy for metastatic pancreatic cancer. In a Phase 2 trial, the drug had no observable effect on Overall Survival and Progression Free Survival in patients with C-reactive protein levels less than or equal to 13 mg/dl.

Traders are buying CLVS in modest volume apparently in response to its Phase 1/2a study of lucitanib in advanced solid tumors. Clinical activity was observed in all doses from 5 mg - 30mg with tolerable side-effect profiles.