FDA delays new approval for Incyte's Jakafi, issuing CRL

Shares of Incyte (Nasdaq: INCY) fell 2.8% to $70.23 on Friday, after the US Food and Drug Administration (FDA) unexpectedly rejected an extended-release version of its blockbuster drug, Jakafi (ruxolitinib).

The FDA has issued a complete response letter (CRL) for ruxolitinib extended-release (XR) tablets, a JAK1/JAK2 inhibitor, for once-daily (QD) use in the treatment of certain types of myelofibrosis (MF), polycythemia vera (PV) and graft-versus-host disease (GVHD).

The CRL states that the FDA cannot approve the application in its present form. The FDA acknowledged that the study submitted in the New Drug Application (NDA) met its objective of bioequivalence based on area under the curve (AUC) parameters but identified additional requirements for approval. Incyte intends to meet with the FDA to determine appropriate next steps.