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Incyte Corporation - $INCY STOCK NEWS

Welcome to our dedicated page for Incyte Corporation news (Ticker: $INCY), a resource for investors and traders seeking the latest updates and insights on Incyte Corporation stock.

Incyte Genomics Inc. (Symbol: INCY) is a leading biopharmaceutical company dedicated to the discovery, development, and commercialization of proprietary therapeutics, with a primary focus on oncology. Headquartered in Wilmington, Delaware, Incyte employs over 625 professionals across its management, discovery, clinical development, and commercial teams.

The company’s flagship product, Jakafi, is a groundbreaking treatment for rare blood cancers and graft versus host disease, developed in partnership with Novartis. Incyte has also made significant strides with its other marketed drugs, including Olumiant for rheumatoid arthritis (licensed to Eli Lilly), Iclusig for chronic myeloid leukemia, Pemazyre for cholangiocarcinoma, Tabrecta for lung cancer, and Monjuvi for diffuse large B-cell lymphoma. Additionally, Incyte's first dermatology product, Opzelura, received approval in 2021 for atopic dermatitis and in 2022 for vitiligo.

Incyte’s pipeline includes a wide array of innovative oncology and dermatology programs, demonstrating their commitment to addressing serious unmet medical needs. The company's strategic collaborations with major pharmaceutical firms further support the clinical development and global commercialization of its compounds.

Incyte’s financial health and robust portfolio position it strongly to continue improving patient lives while building sustainable value for its shareholders. For the latest updates on Incyte’s projects and developments, visit their corporate website at www.incyte.com.

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Incyte (Nasdaq: INCY) announced the preliminary results of its $1.672 billion modified 'Dutch auction' tender offer for common stock, which ended on June 10, 2024. Approximately 29.8 million shares were tendered at or below $60 per share, with a preliminary proration factor of 93.4%. Incyte expects to buy around 27.9 million shares, representing 12.4% of its total outstanding shares. Additionally, a separate agreement with Baker Entities will see Incyte repurchasing 33.3 million shares at $60 per share, totaling about $2.0 billion. This accounts for approximately 14.8% of the company's total shares. Final figures will be confirmed post the guaranteed delivery period.

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Incyte (Nasdaq: INCY) announced the grant of restricted stock unit awards (RSUs) and stock options to 17 new employees under its 2024 Inducement Stock Incentive Plan. The awards include 14,090 RSUs and options to purchase 9,238 shares, with a grant date and vesting commencement date of June 3, 2024. Each RSU vests 25% annually over four years, while the stock options have an exercise price of $58.80 per share, a ten-year term, and vest 25% after one year with the remainder vesting in 36 equal monthly installments. These inducements were approved by Incyte's compensation committee under Nasdaq Listing Rule 5635(c)(4).

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Incyte (Nasdaq: INCY) has completed its acquisition of Escient Pharmaceuticals, a clinical-stage company specializing in novel small molecule therapeutics for systemic immune and neuro-immune disorders. This $750 million deal, plus Escient's remaining net cash, enhances Incyte's Inflammation and Autoimmunity (IAI) pipeline. Key assets acquired include EP262, aimed at treating mast cell-mediated diseases, and EP547, targeting cholestatic pruritus. This acquisition underscores Incyte's commitment to innovative therapies for severe inflammatory diseases and leverages Escient’s pioneering work in MRGPR biology.

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Incyte (Nasdaq: INCY) has announced the acquisition of two office buildings in downtown Wilmington, Delaware, at 1100 North King Street and 1100 North French Street. This marks the company's fourth expansion in Delaware since 2014. The new premises will consolidate its U.S. teams and provide room for future growth. The King Street building, set to open in 2026, will initially house over 400 employees, including U.S. Oncology and Dermatology teams and global corporate staff. The North French Street building is intended for future expansion. CEO Hervé Hoppenot highlighted the company's commitment to Delaware and its role in supporting innovation and collaboration. Local government officials, including Governor Carney and Mayor Purzycki, praised the move for its positive economic impact and job creation.

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Incyte (Nasdaq: INCY) announced its participation in the Goldman Sachs 45th Annual Global Healthcare Conference scheduled for Monday, June 10, 2024, at 8:00 a.m. (EDT) in Miami. The event will be webcast live and can be accessed via Investor.Incyte.com, with a replay available for 30 days.

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Incyte (Nasdaq: INCY) will present multiple abstracts from its oncology portfolio at the 2024 ASCO Annual Meeting (May 31 – June 4) and EHA2024 Congress (June 13-16). Key studies include:

ASCO: INCB099280 - Phase 1 Small-Molecule PD-L1 inhibitor study, INCB057643 - Phase 1 BET inhibitor study.

EHA: Ruxolitinib - Multiple studies on Polycythemia Vera and Myelofibrosis, Zilurgisertib - ALK2 inhibitor studies, INCB160058 - Novel therapy for JAK2V617F mutant Myeloproliferative Neoplasms, Axatilimab - Graft-Versus-Host Disease study, Pemigatinib - Phase 2 study on Myeloid/Lymphoid Neoplasms, Tafasitamab - CD19 expression in Diffuse Large B-Cell Lymphoma.

These presentations highlight Incyte's commitment to developing new cancer treatments.

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Incyte announced a $2.0 billion share repurchase authorization, with a Dutch Auction tender offer to repurchase up to $1.672 billion of outstanding common shares. The offer reflects confidence in the company's future outlook, product portfolio, and clinical pipeline. A separate stock purchase agreement with Baker Entities will repurchase up to $328.0 million of common stock, enabling them to maintain their ownership level. The tender offer, expiring on June 10, 2024, allows stockholders to tender shares within a price range for repurchase.

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Incyte (Nasdaq:INCY) will be presenting at the Bank of America Securities 2024 Health Care Conference on May 15, 2024, in Las Vegas. The presentation will be webcast live and available for replay for 30 days.

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Incyte reports total revenues of $881 million in Q1'24, up 9% Y/Y, with Jakafi® net product revenues at $572 million, Opzelura® at $86 million, and plans to acquire Escient Pharmaceuticals. The company made progress with clinical pipeline and key agreements for drug development.

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Incyte announces the acquisition of Escient Pharmaceuticals, including their first-in-class oral MRGPR antagonists EP262 and EP547. The acquisition supports Incyte's portfolio strategy in Inflammation and Autoimmunity, enhancing their R&D activities. EP262 has shown promise in treating various inflammatory disorders, while EP547 targets cholestatic pruritus. The acquisition cost is $750 million with additional considerations, aiming to bring new treatment options to patients by leveraging Incyte's expertise.
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FAQ

What is Incyte Genomics Inc. known for?

Incyte Genomics Inc. is known for its development and commercialization of proprietary therapeutics, primarily focused on oncology and dermatology.

Where is Incyte Genomics Inc. headquartered?

Incyte Genomics Inc. is headquartered in Wilmington, Delaware.

What is Jakafi?

Jakafi is Incyte's lead drug, used to treat rare blood cancers and graft versus host disease, in collaboration with Novartis.

Which drugs has Incyte marketed?

Incyte has marketed drugs including Olumiant for rheumatoid arthritis, Iclusig for chronic myeloid leukemia, Pemazyre for cholangiocarcinoma, Tabrecta for lung cancer, and Monjuvi for diffuse large B-cell lymphoma.

What is Opzelura used for?

Opzelura is Incyte’s first dermatology product, approved for atopic dermatitis in 2021 and for vitiligo in 2022.

Does Incyte collaborate with other pharmaceutical companies?

Yes, Incyte has established multiple collaborations with major pharmaceutical companies to support the clinical development and global commercialization of its compounds.

How many employees work at Incyte?

Incyte employs over 625 professionals.

What is Incyte's vision?

Incyte's vision is to become a leader in the development and delivery of novel drugs for serious unmet medical needs.

How can I get more information about Incyte?

More information about Incyte can be found on their corporate website at www.incyte.com.

What areas does Incyte's pipeline cover?

Incyte's pipeline includes a broad array of oncology and dermatology programs.

Incyte Corporation

Nasdaq:INCY

INCY Rankings

INCY Stock Data

13.37B
186.98M
1.58%
100.2%
3.59%
Research and Development in the Physical, Engineering, and Life Sciences (except Biotechnology)
Professional, Scientific, and Technical Services
Link
United States of America
WILMINGTON

About INCY

incyte is a biopharmaceutical company focused on the discovery, development and commercialization of proprietary therapeutics, primarily for oncology. our vision is to become a leader in the development and delivery of novel drugs for serious unmet medical needs. we have established multiple collaborations with major pharmaceutical companies to support the clinical development and global commercialization of several of our compounds. the incyte corporate headquarters is located in wilmington, delaware, and more than 625 employees comprise our experienced management, discovery, clinical development and commercial teams. our assets, experience and prior success in bringing important new drugs to market put us in a strong position to make a difference by improving the lives of patients and building sustainable value for our shareholders. for more information about incyte, please visit our corporate website at www.incyte.com.