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Incyte Reports Second Quarter 2026 Financial Results and Provides Business Updates

INCY
  • Incyte reported second quarter 2026 total revenue of $1.67 billion and total net sales of $1.49 billion, representing increases of 38% and 40% respectively compared to the prior year period.
  • Total net sales excluding the one-time $246 million non-cash benefit from the CMS settlement related to Opzelura grew 17% year-over-year.
  • Jakafi and Jakafi XR net sales reached $817 million, an increase of 7% compared to the second quarter of 2025.
  • Opzelura net sales were $450 million, a 173% increase year-over-year; excluding the one-time benefit, sales were $204 million, up 24%.
  • The Hematology and Oncology portfolio generated $222 million in net sales, an increase of 69% compared to the second quarter of 2025.
  • Incyte raised its full year 2026 total net sales guidance to $5.130–$5.260 billion, driven by the CMS agreement and strong performance of Hematology and Oncology products.
  • Full year 2026 Opzelura net sales guidance was raised to $1.050–$1.100 billion, while Hematology and Oncology guidance was raised to $860–$890 million.
  • Full year 2026 operating expense guidance was increased to $4.915–$4.995 billion (GAAP) and $4.625–$4.695 billion (Non-GAAP) to reflect the Vega Therapeutics acquisition and latarcibart investments.
  • The acquisition of Vega Therapeutics was completed in July 2026 for $1.25 billion, adding the Phase 3 asset latarcibart for von Willebrand disease to the pipeline.
  • Jakafi XR received FDA approval in May 2026 for multiple indications including myelofibrosis, polycythemia vera, and graft-versus-host disease.
  • Monjuvi/Minjuvi data from the Phase 3 frontMIND trial showed improved progression-free survival in first-line diffuse large B-cell lymphoma treatment, with global regulatory submissions accepted in the second quarter of 2026.
  • Opzelura received a positive CHMP opinion in June 2026 for moderate atopic dermatitis in Europe, with a regulatory decision expected in the third quarter of 2026.
  • Incyte anticipates ten clinical data readouts, including four from registrational trials, throughout the second half of 2026.
  • Cash, cash equivalents, and marketable securities totaled $4.5 billion as of June 30, 2026, up from $3.6 billion at the end of 2025.
  • GAAP net income for the quarter was $585.6 million, while Non-GAAP net income was $643.4 million.