Incyte Q1: Jakafi rev $580M (+7%); Opzelura $57M (+343%); raises Jakafi FY guidance to $2.55-2.63B

INCYTE CORP

2023-Q1 EPS reported $0.10 revenue$808,673,000

Total net product revenues $693M (+14% YoY); total GAAP revenues $808.7M (+10% YoY).
GAAP net income $21.7M ($0.10 diluted EPS) vs $38.0M ($0.17) in Q1 2022; Non-GAAP net income $84.6M ($0.37).
Jakafi FY 2023 guidance raised: bottom end to $2.55B from $2.53B; new range $2.55-$2.63B.
FDA issued complete response letter for ruxolitinib XR (once-daily) in MF, PV, GVHD; next steps unclear.
Discontinued parsaclisib combo trials in MF (LIMBER-304/313) and development in wAIHA; axatilimab Phase 2 cGVHD data on track for mid-2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INCYTE CORP reported first fiscal quarter ended March 31, 2023 results: revenue $693 million. Guidance raised.

Period: first fiscal quarter ended March 31, 2023
Revenue: $693 million
Guidance: raised
Result: reported results

Exact text from the filing

FOR IMMEDIATE RELEASE Incyte Reports 2023 First Quarter Financial Results and Provides Updates on Key Clinical Programs – Total net product revenues of $693 million in Q1'23 (+14% Y/Y) – Jakafi ® (ruxolitinib) net product revenues of $580 million (+7% Y/Y) in Q1'23; raising the bottom end of full year guidance to new range of $2.55 - $2.63 billion for FY 2023

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Source: SEC EDGAR

accession 0000879169-23-000014

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