Incyte stands to benefit from unveiling data on its cancer treatments at a key conference in the coming days, a biotechnology analyst said Friday.
Many big-name biotech and pharmaceutical companies will present drug developments at the American Society of Clinical Oncology annual meeting, which runs until Tuesday. Many treatments will focus on immuno-oncology, which directs the natural immune system to fight cancer cells.
"A lot of innovation" has taken place in that category of cancer therapy, said Eric Schmidt, a biotech analyst at Cowen and Co. He noted that Incyte may play a huge role in the treatment.