Earnings Releases·Oct 29, 2026, 7:03 AM ET

Incyte — Third Quarter 2026 Earnings Summary

Total revenue and net sales both reached $1.56 billion and $1.32 billion respectively, representing a 14% year-over-year increase, driven by strong performance in Opzelura (36% growth) and the Hematology and Oncology portfolio (38% growth).
The company raised its 2026 full-year guidance for total net sales to $5,210–$5,300 million, alongside increased forecasts for Opzelura and Hematology/Oncology segments, while reaffirming Jakafi and total operating expense targets.
GAAP net loss was $784.8 million, primarily attributable to a $1.23 billion one-time IPR&D expense from the Vega Therapeutics acquisition; excluding this, GAAP R&D expenses increased 11% year-over-year.
Strategic milestones include the completed $1.25 billion Vega acquisition, a CMS agreement aligning Jakafi pricing to avoid future mandates, and potential U.S. approvals for Monjuvi and povorcitinib anticipated in Q1 2027.
Cash and marketable securities totaled $3.9 billion as of September 30, 2026, supporting a pipeline with Phase 3 data expected by year-end for povorcitinib and ruxolitinib cream, and new study initiations planned for late 2026.