Wall Street kicked off a data-heavy week on a mixed note as traders await key inflation updates and remarks from Fed Chair Jerome Powell in the coming days.
Incyte acquires Escient Pharmaceuticals for $750 million, bolstering its pipeline. Cantor Fitzgerald initiates coverage with a Neutral rating, citing undervaluation concerns despite strong cash flow.
Incyte (NASDAQ:INCY) and Escient Pharmaceuticals, a clinical-stage drug discovery and development company advancing novel small molecule therapeutics for systemic immune and neuro-immune disorders, have entered into a