Incyte Shares Hit New 13-Month High

Shares of Incyte Corp. rose to a new 13-month high on Monday after the company and Merck (MRK) said they will advance a program that will investigate the combination of Incyte’s epacadostat with Merck’s Keytruda.

The companies said they plan to start studies evaluating the combination for non-small cell lung cancer, renal cell carcinoma, bladder cancer and squamous cell carcinoma of the head and neck.

The additional studies are slated to start this year, the companies added. INCY was up over 6% in recent trade with a new 52-week range of $55.00 to $116.89.