Today Incyte Corporation (INCY) decided to terminate a phase 2 study for Colorectal cancer, as an interim analysis concluded that the study didn’t see enough efficacy in the combination to continue the study. The phase 2 study that was terminated was known as INCB 18424-267. The company chose to terminate the sub study after determining that efficacy was not being produced. 

Patients in the sub study took Ruxolitinib, marketed under the name Jakafi, together with regorafenib — placebo — and were not able to improve upon their symptoms. The sub study that failed to show significant results was in the Colorectal patients that were in the High CRP-group. Although quite a huge disappointment, the company is not too worried about this one study. 

That is because Jakafi is already an FDA approved product for two different indications. One indication Jakafi is approved for is Polycythemia Vera and Myelofibrosis. Incyte has the rights to sell Jakafi in the United States, but Novartis (NVS) has the rights to sell it outside the United States. Shares of Incyte tanked 13% in after-hours trading after announcing this news.