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Gap — The retail stock climbed nearly 4% after Barclays upgraded Gap to overweight from equal weight. Incyte — Shares rose 2% after Incyte beat analysts' expectations in its latest results. The pharmaceutical company reported second-quarter revenue of $954.6 million, exceeding the FactSet consensus estimate of $909.7 million. ZoomInfo Technologies — Shares sank by nearly 20% in premarket trading after the data company reported a weak outlook for third-quarter revenue. Arista Networks — Shares advanced 13.6% in premarket trading after the company reported after the bell Monday that its quarterly earnings topped analysts' expectations.
Persons: Michael Perito, Perito, Estee Lauder, Adrienne Yih, Incyte, Herve Hoppenot, Dara Khosrowshahi, Merck, Monday's, Macheel, Alex Harring, Yun Li, Sarah Min, Michelle Fox Theobald Organizations: SoFi Technologies, Barclays, Body, Caterpillar —, Caterpillar, Merck —, Pfizer, Toyota, Refinitiv, Arista Networks —, Arista, Revenue Locations: China, Monday's, Jakafi, Refinitiv
March 3 (Reuters) - Drugmaker Incyte Corp (INCY.O) said on Friday it was stopping its late-stage trial of an experimental cancer drug after an interim analysis indicated the drug was unlikely to meet the main goal of the study, dragging its shares 2% lower in after-market trade. The study was aimed at determining the safety and effectiveness of adding parsaclisib to the use of its drug Jakafi, which is approved for the treatment of some types of myelofibrosis - a form of bone marrow cancer. Discontinuation of the study was not due to safety, the company said. Data from mid-stage study in December had demonstrated that addition of parsaclisib to Jakafi resulted in some reduction in spleen volume and improvement in symptom burden in patients with myelofibrosis. Reporting by Arshreet Singh; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Jan 4 (Reuters) - Geron Corp (GERN.O) said on Wednesday its experimental blood cancer drug helped more patients achieve independence from blood transfusions when compared with a placebo in a late-stage trial, sending its shares up 50%. Geron's lead drug, imetelstat, was being studied in patients with a type of myelodysplastic syndromes (MDS), a difficult to treat family of blood cancers. Patients with the disease require frequent blood transfusions to manage their anemia. The drug also met its secondary goal, with 28% of the patients using the drug not needing transfusion for 24 weeks, compared with 3.3% of the patients on placebo. Geron is also testing the drug for myelofibrosis, a rare type of bone marrow cancer, and expects an interim analysis in 2024.
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