Incyte reported that its pivotal Phase III trial of tafasitamab (Monjuvi/Minjuvi) as a first-line treatment for diffuse large B-cell lymphoma achieved its primary endpoints. The study enrolled 624 patients across 120 sites and showed a statistically significant improvement in overall response rate versus standard immunochemotherapy at a median follow-up of 18 months. Safety data were consistent with previous phases, with Grade 3 or higher neutropenia observed in 22% of treated subjects. Full data readouts are expected in the second quarter of next year, supporting regulatory submissions in both the U.S. and Europe.

Incyte’s investigational combination of a JAK inhibitor and anti-CD20 antibody achieved its primary endpoint in a randomized, open-label Phase III study involving 432 patients with relapsed or refractory follicular lymphoma. The trial reported a 35% reduction in risk of disease progression or death compared with control at the pre-specified interim analysis. Median progression-free survival has not yet been reached in the experimental arm versus 24.4 months in the control cohort. Treatment-emergent adverse events were manageable, with low discontinuation rates.

Generali Asset Management SPA SGR trimmed its holding by 20.3%, selling 6,280 shares to end the third quarter with 24,654 shares valued at $2.09 million. In contrast, Arrowstreet Capital Limited Partnership increased its stake by 701.8% during the second quarter to 2.73 million shares, representing a valuation of $185.96 million. AQR Capital Management LLC added 1.47 million shares for a total of 8.20 million, while Norges Bank established a new position valued at $96.78 million. These shifts pushed institutional ownership to 96.97%.

Incyte delivered third-quarter revenue of $1.37 billion, up 20% year-over-year, and GAAP EPS of $2.26, topping consensus by $0.61. The company ended the period with a current ratio of 3.20 and a debt-to-equity ratio of 0.01. Following the results, Stifel Nicolaus raised its target to $115 and maintained a buy rating, while Mizuho assigned an outperform rating with a $121 target. The consensus across eight buy, eleven hold and one sell recommendations yields a consensus target of $99.79.