Welcome to our dedicated page for Incyte news (Ticker: INCY), a resource for investors and traders seeking the latest updates and insights on Incyte stock.
Incyte Corporation (INCY) reports developments for a biopharmaceutical business focused on hematology, oncology, and inflammation and autoimmunity. Recurring updates cover commercial medicines such as Jakafi, Jakafi XR, and Opzelura, regulatory decisions for approved and investigational therapies, and clinical data across blood cancers, graft-versus-host disease, dermatology, and solid tumors.
Company news also includes financial results, product revenue trends, pipeline progress, investor conference participation, executive appointments, equity inducement awards, and international regulatory updates tied to hematology and oncology therapies.
Incyte will present key data from its oncology portfolio at the 64th American Society of Hematology Annual Meeting (ASH 2022) in New Orleans from December 10-13, 2022. Highlights include the plenary session featuring the novel anti-mutant CALR-targeted monoclonal antibody INCA033989 and results from its LIMBER studies evaluating combination therapies like ruxolitinib with parsaclisib. The company will also host an analyst event on December 11 to discuss these findings.
Incyte reported Q3 2022 net product revenues of $713 million, a 20% increase year-over-year, driven by strong performances from Jakafi and Opzelura. Jakafi generated $620 million (+13% Y/Y), prompting an upward revision of full-year guidance to $2.38 - $2.40 billion. Opzelura contributed $38 million and is expanding into vitiligo. The company is progressing in clinical trials, including promising results for povorcitinib in hidradenitis suppurativa. Operating expenses rose significantly, impacting net income, which fell to $112.8 million compared to $181.7 million in Q3 2021.
Incyte announced the publication of data from the Phase 3 TRuE-V clinical trial in The New England Journal of Medicine, demonstrating the effectiveness of ruxolitinib cream (Opzelura™) for treating nonsegmental vitiligo. The trials showed significant repigmentation, with approximately 30% of patients achieving ≥75% improvement in facial vitiligo at Week 24, rising to 50% by Week 52. The FDA recently approved Opzelura as the first and only treatment for this condition. These results highlight a major advancement in the management of vitiligo, impacting over 1.5 million individuals in the U.S.
Incyte has announced its upcoming Q3 2022 financial results conference call set for 8:00 a.m. ET on November 1, 2022. The press release detailing these results will be available at 7:00 a.m. ET on the same day. Investors can join the conference using domestic and international dial-in numbers or via a live webcast, which will also be available for replay for up to ninety days. Incyte is a Wilmington-based biopharmaceutical company dedicated to addressing significant unmet medical needs.
Incyte announces the appointment of Susanne Schaffert, Ph.D., to its Board of Directors. Schaffert brings over 26 years of experience from Novartis AG, including her most recent role as President of Novartis Oncology. Incyte's CEO, Hervé Hoppenot, emphasized the value of her extensive expertise in commercial and development sectors to support the company's growth. Schaffert expressed enthusiasm for her new role, focusing on scientific innovation and developing new medications for patient needs.
Incyte announced FDA approval for Pemazyre (pemigatinib) treating adults with relapsed or refractory myeloid/lymphoid neoplasms (MLNs) featuring FGFR1 rearrangement, a rare and aggressive blood cancer affecting under 1 in 100,000 people in the U.S. This follows Pemazyre's earlier approval for cholangiocarcinoma in 2020. The approval was based on the Phase 2 FIGHT-203 study, showing a 78% complete response rate in patients with chronic phase disease. Potential side effects include hyperphosphatemia and ocular toxicity.
Incyte announced multiple abstracts from its dermatology portfolio will be presented at the EADV Congress from September 7-10, 2022. Highlights include data on the FDA-approved ruxolitinib cream for vitiligo and the oral JAK1 inhibitor povorcitinib, advancing into Phase 3 for hidradenitis suppurativa. Key presentations include efficacy and safety analyses of ruxolitinib cream and insights from the VALIANT study on vitiligo's mental health impacts. The MAA for ruxolitinib cream is under review by the EMA, reinforcing Incyte’s focus on innovative dermatological treatments.
Incyte will present at the Morgan Stanley 20th Annual Global Healthcare Conference on September 12, 2022, at 12:30 p.m. EDT in New York. The presentation will be available via live webcast on Investor.Incyte.com and will be accessible for replay for 30 days. Based in Wilmington, Delaware, Incyte is a global biopharmaceutical company dedicated to addressing serious unmet medical needs through innovative therapeutics. For more information, visit Incyte.com.
Incyte reported its Q2 2022 financial results, showing a significant 29% increase in total revenues to $911 million year-over-year. Product revenues of $664 million grew by 15%, with Jakafi leading at $598 million (+13% Y/Y). The company raised its full-year guidance for Jakafi to $2.36 to $2.40 billion. Notable approvals for Opzelura in vitiligo and Olumiant for alopecia areata enhance growth prospects. However, operational costs surged, with SG&A expenses rising 50% due to commercial activities.
Incyte has announced the FDA approval of Opzelura (ruxolitinib) cream 1.5%, the first and only topical treatment for nonsegmental vitiligo in patients aged 12 and older. Based on Phase 3 TRuE-V clinical trials, approximately 30% of patients achieved significant improvements in facial repigmentation at Week 24, increasing to 50% by Week 52. Opzelura is significantly impactful as it addresses a major unmet medical need, with potential for broad market appeal. An investor conference call is scheduled for July 19, 2022.