INCYTE CORPORATION (NASDAQ:INCY) Files An 8-K Other Events

ME Staff 8-k
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INCYTE CORPORATION (NASDAQ:INCY) Files An 8-K Other Events
Item 8.01 Other Events.

On December 21, 2016, Incyte Corporation (the “Company”) announced and filed a Current Report on Form 8-K with respect to the entry into the Collaboration and License Agreement between Merus N.V. (“Merus”) and the Company (the “Collaboration Agreement”) and the related Share Subscription Agreement between Merus and the Company (the “Subscription Agreement”). Closing under the Subscription Agreement was conditioned on the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) and effectiveness of the Collaboration Agreement was conditioned on closing of the Subscription Agreement. The waiting period under the HSR Act expired on January 20, 2017. On January 23, 2017, the Company completed the purchase to the Subscription Agreement of 3,200,000 common shares, nominal value €0.09 per share, of Merus for an aggregate purchase price of $80.0 million in cash, or $25.00 per share. On January 23, 2017, the Collaboration Agreement became effective. The Company will be required to pay to Merus the upfront non-refundable payment of $120.0 million to the terms of the Collaboration Agreement upon the submission by Merus to the Company of an invoice for that amount following the effectiveness of the Collaboration Agreement.


About INCYTE CORPORATION (NASDAQ:INCY)

Incyte Corporation is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Company focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK). The Company’s pipeline includes compounds in various stages, ranging from preclinical to late stage development, and a commercialized product, JAKAFI (ruxolitinib). The Company has discovered multiple potent, selective and orally bioavailable JAK inhibitors that are selective for JAK1 or JAK1 and JAK2. JAKAFI is the compound in its JAK program, which is an oral JAK1 and JAK2 inhibitor. JAKAFI orphan drug is indicated for Myelofibrosis (MF), Polycythemia Vera (PV) and essential thrombocythemia. The Company’s second oral JAK1 and JAK2 inhibitor is baricitinib.

INCYTE CORPORATION (NASDAQ:INCY) Recent Trading Information

INCYTE CORPORATION (NASDAQ:INCY) closed its last trading session up +1.62 at 119.92 with 1,323,335 shares trading hands.