** Drugmaker Incyte Corp's INCY.O shares fall ~14% to $58.5 premarket
** Co's experimental drug, povorcitinib, meets the main goal of two separate late-stage studies testing it in patients with an inflammatory skin condition called hidradenitis suppurativa
** At least three analysts said that the data shows the drug is not as effective as its prior studies, which could make it less competitive against other treatments for the condition
** Novartis NOVN.S Cosentyx and UCB UCB.BR Bimzelx is already approved to treat this condition
** Truist securities analysts said that while the data will help get the drug approved, given the significant need for patients, its commercial potential may be impacted
** Hidradenitis suppurativa is an acne-like condition that causes painful bumps and lesions in and under the skin
** Up to last close, stock had risen 15.2% in the past 12 months
(Reporting by Siddhi Mahatole)
((siddhi.mahatole@thomsonreuters.com))
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