Incyte Q1 revenues $881M (+9% YoY), GAAP EPS $0.75; to acquire Escient for $750M

INCYTE CORP

2024-Q1 EPS reported $0.75 revenue$880,889,000

Revenue $881M (+9% YoY); GAAP net income $169.5M, diluted EPS $0.75.
Jakafi net revenues $572M (-1% YoY) despite 5% paid patient growth; inventory drawdown of ~$55M.
Opzelura revenues $86M (+52% YoY) driven by AD and vitiligo uptake.
Incyte to acquire Escient Pharmaceuticals for $750M plus net cash; lead candidate EP262 for CSU.
FY2024 guidance reaffirmed: Jakafi $2.69-2.75B; R&D $1.72-1.76B.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INCYTE CORP reported first fiscal quarter ended March 31, 2024 results: revenue Total revenues of $881 million in the first quarter (Q1'24). Guidance reaffirmed.

Period: first fiscal quarter ended March 31, 2024
Revenue: Total revenues of $881 million in the first quarter (Q1'24)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Incyte Reports 2024 First Quarter Financial Results and Provides Updates on Key Clinical Programs – Total revenues of $881 million in the first quarter (Q1'24) (+9% Y/Y) – Jakafi ® (ruxolitinib) net product revenues of $572 million in Q1'24, total paid patients increased +5% Y/Y; reiterating full year 2024 guidance of $2,690 - $2,750 million

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Source: SEC EDGAR

accession 0000879169-24-000074

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