Incyte Stock Jumps 9.6% on QIAGEN Collaboration for Precision Medicine

Incyte shares rose 9.6% in pre-market trading after announcing a precision medicine collaboration with QIAGEN. Other stocks moving in pre-market trading include TMD Energy, Regencell Bioscience Holdings, Battalion Oil Corporation, and OceanPal Inc. Gainers include AIRO Group Holdings, EchoStar Corporation, and IperionX Limited, while losers include Sarepta Therapeutics, Dragonfly Energy Holdings Corp, and Greenlane Holdings.

Incyte Corporation (INCY) saw its stock rise by 9.6% in pre-market trading following the announcement of a precision medicine collaboration with QIAGEN (QGEN). This partnership aims to develop a novel diagnostic panel using next-generation sequencing (NGS) technology for detecting clinically relevant gene alterations in hematological malignancies, specifically focusing on mutant CALR-expressing myeloproliferative neoplasms (MPNs).

The collaboration, which includes the development of a multimodal panel using NGS technology and the Illumina NextSeq 550Dx platform, is part of QIAGEN's ongoing efforts to enhance its onco-hematology diagnostics pipeline. The panel will be validated and used with whole blood samples, supporting Incyte's extensive portfolio in myeloproliferative neoplasms, including its monoclonal antibody INCA033989, which targets mutant calreticulin (mutCALR).

Incyte's President and Head of Research and Development, Pablo J. Cagnoni, M.D., expressed excitement about the partnership, stating, "Following our presentation of positive, late-breaking data from our first-in-class mutCALR-targeted antibody at EHA, we are excited to announce this partnership with QIAGEN, which will facilitate CALR testing for patients with MPNs on a global basis. The development of companion diagnostics for mutCALR, coupled with the potential for new medicines to selectively target disease-initiating cells, is a critical step toward changing the course of disease in patients with ET and MF."

QIAGEN's Vice President and Head of Partnering for Precision Diagnostics, Jonathan Arnold, added, "Together with Incyte, we are building a multimodal companion diagnostic using a powerful technology like next-generation sequencing to facilitate highly accurate testing for several blood cancer genes at once."

The collaboration supports Incyte's mission to solve unmet medical needs, particularly in the oncology and inflammation & autoimmunity areas. QIAGEN, a leading global provider of Sample to Insight solutions, is known for its expertise in developing and commercializing diagnostic tests.

Other notable movements in the pre-market trading session included TMD Energy, Regencell Bioscience Holdings, Battalion Oil Corporation, and OceanPal Inc. Gainers also included AIRO Group Holdings, EchoStar Corporation, and IperionX Limited, while losers included Sarepta Therapeutics, Dragonfly Energy Holdings Corp, and Greenlane Holdings.

References:
[1] https://www.morningstar.com/news/business-wire/20250615075973/qiagen-and-incyte-announce-precision-medicine-collaboration-to-develop-companion-diagnostics-for-patients-with-mutant-calr-expressing-myeloproliferative-neoplasms-mpns