(Reuters) -Drugmaker Incyte Corp on Tuesday raised its annual sales forecast for its blood cancer treatment Jakafi after robust demand for the drug helped the company surpass Wall Street estimates for third-quarter revenue and profit.

However, shares fell 2.4% in premarket trading after the company said it halted two new drug programs and stopped developing povorcitinib for chronic spontaneous hives, an itchy skin condition, citing pipeline prioritization.

“We are not surprised by the program’s discontinuation due to safety concerns for the class,” said William Blair analyst Matt Phipps referring to povorcitinib.

The company now expects annual sales of blood cancer drug Jakafi in the range of $3.05 to $3.08 billion, compared to its previous forecast of $3 billion to $3.05 billion.

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