Incyte Corp said a mid-stage trial of its experimental cancer treatment showed the drug, Jakafi, improved the survival rate of patients most likely to benefit from the treatment.
The company's shares rose 20 percent in premarket trade.
The six month survival rate of patients treated with Jakafi along with chemotherapy was 42 percent, compared with an 11 percent survival rate for those on placebo.
The drug, generically known as ruxolitinib, was tested in combination with chemotherapy drug, capecitabine, to improve the overall survival of patients with advanced pancreatic cancer, as compared to capecitabine alone.
The combination of Jakafi and capecitabine was generally well tolerated in the study.
Among the patients receiving the combination therapy, 12 percent discontinued treatment for an adverse event, compared with 20 percent patients who received capecitabine alone.
Incyte shares were up 20 percent to $32.50 in trading before the bell. They closed at $27 on Tuesday on the Nasdaq.
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