27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
- The FDA granted accelerated approval to Incyte Corporation's (NASDAQ:INCY) Zynyz (retifanlimab-dlwr) for adult patients with metastatic or recurrent locally advanced Merkel cell carcinoma (MCC).
- Continued approval of Zynyz for this indication may be contingent on verification and description of clinical benefit in confirmatory trials.
- Also Read: Analyst Writes Incyte's Opzelura Provides Deepening, Relapse Prevention; Povo Data Intriguing In Depigmented Skin Disorder.
- MCC is a rare and aggressive type of skin cancer that frequently appears as a single, painless, reddish-purple skin nodule on the head, neck, and arms in skin exposed to sunlight.
- The FDA approval was based on data from the POD1UM-201 trial.
- Among chemotherapy-naïve patients (n=65), Zynyz monotherapy resulted in an objective response rate (ORR) of 52%.
- Complete response was seen in 12 patients (18%), and 22 patients (34%) showed partial response.
- Among the responding patients, the duration of response (DOR) ranged from 1.1 to 24.9+ months.
- 76% (26/34) experienced a DOR of six months or longer, and 62% (21/34) experienced a DOR of 12 months or longer by landmark analysis.
- MacroGenics Inc (NASDAQ:MGNX) developed the therapy and was licensed to Incyte in 2017.
- Incyte's product competes with Merck & Co Inc's (NYSE:MRK) Keytruda, and Merck KGaA (OTC:MKGAF) (OTC:MKKGY) & Pfizer Inc's (NYSE: PFE) Bavencio, approved to treat MCC.
- The list price for each dose of Keytruda when it is given every three weeks is $10,683.52.
- Incyte said the monthly treatment price with Zynyz will be comparable with other drugs in the same class that is currently available, Reuters reported.
- Price Action: INCY shares closed at $72.26 on Wednesday.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!