April 25, 2017 (Shareholders Foundation) - An investigation on behalf of investors of Incyte Corporation (NASDAQ:INCY) shares over potential securities laws violations by Incyte Corporation and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Incyte Corporation (NASDAQ:INCY) concerning whether a series of statements by Incyte Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Incyte Corporation reported that its annual Total Revenue rose from $735.75 million in 2015 to over $1.1 billion in 2016 and that its Net Income increased from $6.53 million in 2015 to $104.22 million in 2016.

Shares of Incyte Corporation (NASDAQ:INCY) grew from %65.07 per share in March 2016 to as high as $147.96 per share in March 2017.

On April 14, 2017, Incyte Corporation revealed that the U.S. Food and Drug Administration ('FDA') had rejected the new drug application for baricitinib, a once-daily rheumatoid arthritis treatment developed in collaboration with Eli Lilly and Company. Incyte Corporation informed investors that the FDA asked for additional data to 'characterize safety concerns across treatment arms' and to determine 'the most appropriate doses.' Shares of Incyte Corporation (NASDAQ:INCY) declined to $122.51 per share on April 21, 2017.