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Mar 31, 2020
Incyte Q1 2020 Earnings Report
Incyte reported strong first quarter results driven by revenue momentum and advancements in clinical programs.
Key Takeaways
Incyte's first quarter results demonstrated continued revenue growth, particularly driven by Jakafi. The company also achieved FDA approval for Pemazyre and is progressing with other potential product approvals. Despite the COVID-19 pandemic, Incyte has maintained its commercial operations and clinical trials.
Incyte reported strong first quarter results with revenue momentum.
FDA approved Pemazyre for cholangiocarcinoma.
Late-stage clinical programs remain broadly on track.
Incyte reaffirmed its full year 2020 financial guidance.
Incyte
Incyte
Incyte Revenue by Segment
Incyte Revenue by Geographic Location
Forward Guidance
Incyte reaffirmed its full year 2020 financial guidance.
Positive Outlook
- Revenue guidance of $2,050 - $2,150 million
- Jakafi net product revenue guidance of $1,775 - $1,825 million
- R&D expense guidance excludes $805 million of upfront consideration paid under the MorphoSys collaboration
- R&D expense guidance includes the expenses related to Incyte’s share of tafasitamab development costs under the MorphoSys collaboration.
- Financial guidance excludes the impact of any potential future strategic transactions.
Challenges Ahead
- Potential impacts of the COVID-19 pandemic on the Company’s business, operations and financial results.
- Risks related to further research and development and the results of clinical trials possibly being unsuccessful or insufficient to meet applicable regulatory standards or warrant continued development.
- The ability to enroll sufficient numbers of subjects in clinical trials.
- Determinations made by the FDA.
- Unexpected variations in the demand for the Company’s products.
Revenue & Expenses
Visualization of income flow from segment revenue to net income