Incyte Q2 2020 Earnings Report
Key Takeaways
Incyte's Q2 2020 financial results showed a 16% increase in product and royalty revenues compared to the prior year, driven by growth in Jakafi net product revenues and higher product royalty revenues from Jakavi and Olumiant. The company reaffirmed its full-year 2020 financial guidance and highlighted key clinical program updates, including positive data for parsaclisib in combination with ruxolitinib in myelofibrosis patients and the FDA approval of Monjuvi for relapsed or refractory DLBCL.
Demand for Jakafi remained robust.
Pemazyre, Monjuvi, and Tabrecta added to the company's momentum with recent approvals.
Positive proof-of-concept data was presented for parsaclisib in combination with ruxolitinib in myelofibrosis patients.
The REACH3 study, evaluating ruxolitinib in patients with steroid-refractory chronic graft-versus-host disease (GVHD), met its primary endpoint.
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Forward Guidance
The Company has reaffirmed its full year 2020 financial guidance.