secwatch.observer — SEC 8-K summary
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Issuer:     INCYTE CORP (INCY)
CIK:        0000879169
Form:       8-K
Filed at:   2024-07-30T23:59:59+00:00
Accession:  0000879169-24-000146
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Q2 net loss $445M; revs up 9% to $1.04B; Jakafi guidance raised; $2B buyback completed
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- Total revenues $1,044M (+9% YoY); Jakafi $706M (+3%), Opzelura $122M (+52%).
- GAAP net loss $444.6M vs $203.5M income in Q2 2023; non-GAAP net loss $396.1M.
- Completed $2.0B share repurchase (33.3M shares at $60 each) in June 2024.
- Raised low end of 2024 Jakafi revenue guidance to $2,710-$2,750M; revised R&D guidance up.
- Discontinued development of oral PD-L1, LAG-3, TIM-3, LAG-3xPD-1; focus on high-impact programs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/879169/000087916924000146/0000879169-24-000146-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/879169/000087916924000146/incy-20240730.htm
  HTML page:      https://secwatch.observer/filing/0000879169-24-000146

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