Incyte Surges Past Expectations With Strong Q2, Boosts Guidance On Jakafi Demand

Incyte Corporation (NASDAQ:INCY) reported on Tuesday that its second-quarter revenue was $1.22 billion, up 16% year over year. The company beat the consensus of $1.15 billion.

Incyte’s adjusted earnings were $1.57 per share. That’s a turnaround from a loss of $1.82 a year ago and beating the consensus estimate of $1.41.

The company’s Q2 results reflect “strong growth,” said Incyte CEO Bill Meury. Jakafi (ruxolitinib), Opzelura (ruxolitinib) cream, and Niktimvo (axatilimab) position the company to deliver on 2025 objectives, he added.

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Jakafi’s net product revenue increased 8% to $764 million, driven by an increase in paid demand of 8% reflecting continued demand growth in all indications.

Opzelura net product revenue increased 35% to $164 million, driven by increased patient demand and refills in both atopic dermatitis (AD) and vitiligo.

Minjuvi/Monjuvi net product revenue remained almost stagnant at $31.13 million.

In June, the U.S. Food and Drug Administration (FDA) approved Monjuvi (tafasitamab-cxix) in combination with rituximab and lenalidomide for adult patients with relapsed or refractory follicular lymphoma.

Guidance: Incyte is raising its ...