Incyte Stock Earnings Reports

Incyte reported a strong start to 2026 with total revenue of $1.27B and net sales of $1.10B (up ~20% YoY). Growth was broad-based: Jakafi sales grew 7% to $758M while the core business ex-Jakafi grew 63% YoY driven by Opzelura, Niktimvo, Monjuvi and Zynyz. Management highlighted multiple near‑term regulatory and clinical catalysts: FDA acceptance of the NDA for povorcitinib (HS), positive Phase III vitiligo results for povorcitinib (supporting a 1H27 vitiligo submission), anticipated Jakafi XR approval and mid‑year launch, expected EU approval/launch of Opzelura for moderate AD, and planned 1H26 global submissions for Monjuvi in 1L DLBCL (approval/launch expected early 2027). Key pipeline progress includes initiation of a Phase III in CALR‑mutant ET (989), Phase III programs in KRAS G12D (734) in 1L pancreatic cancer, multiple oncology pivotal trials, and ongoing hematology and immunology registrational efforts. Management restructured leadership: Suky Upadhyay named CFO, Pablo Cagnoni President & Global Head R&D, Steven Stein CMO/Head Late‑stage Dev, and Mohamed Issa Head of U.S. Commercial. Guidance was reaffirmed for full‑year 2026 net sales of $4.77–$4.94B and GAAP R&D + SG&A of $3.495–$3.675B. Company reiterated focus on transitioning beyond Jakafi toward a diversified hem/onc and immunology portfolio with multiple launches planned over the next 12 months and a long‑term ambition for I&I to represent ~1/3 of revenue by 2030.