Daily close, T-120 (1/1/25) through T+5. Run-up high $75.26 on 2/10/25, low $55.17 on 4/14/25 (T-120 to T-1). FDA decision 6/18/25. Historical price action, not a forecast.
Positioning before the decision
On Jun 4, 2025, 14 days before the decision date, at-the-money options priced a move of ±5.8% through Jun 20, 2025 (the first listed expiry after the decision; ATM implied volatility 34%). The stock closed -0.8% at the first close across the decision and -1.8% five trading days on. A straddle priced weeks out covers ordinary movement plus the event, so this is the move the options market priced through that expiry, not the event-implied move alone. How this compares across 1,000+ decisions.
Decision facts
FDA decision date2025-06-18
DrugMONJUVI (tafasitamab) with REVLIMID (lenalidomide) and RITUXAN (rituximab)
IndicationFollicular lymphoma (FL) / marginal zone lymphoma (MZL)
Was MONJUVI (tafasitamab) with REVLIMID (lenalidomide) and RITUXAN (rituxi approved by the FDA?
Yes. The FDA approved the application for MONJUVI (tafasitamab) with REVLIMID (lenalidomide) and RITUXAN (rituxi on June 18, 2025. The primary source is linked on this page.
What was MONJUVI (tafasitamab) with REVLIMID (lenalidomide) and RITUXAN (rituxi under FDA review for?
The application covered Follicular lymphoma (FL) / marginal zone lymphoma (MZL). The FDA approved the application on June 18, 2025.
How did INCY stock react to the FDA decision?
On the decision day INCY moved -0.8%. That is the recorded reaction to this specific event -- historical measurement, not a prediction, and not investment advice.