Incyte (INCY) Tops Q4 EPS by 8c, Revenues Beat

Incyte (NASDAQ: INCY) reported Q4 EPS of $0.65, $0.08 better than the analyst estimate of $0.57. Revenue for the quarter came in at $579.39 million versus the consensus estimate of $575.6 million.

• Total product and royalty revenues of $579 million (+24%) in 4Q 2019 and $2.1 billion (+22%) for the full year 2019; Jakafi® (ruxolitinib) revenues of $466 million (+23%) in 4Q 2019 and $1.7 billion (+21%) for the full year 2019
• Full year 2020 Jakafi net product revenue guidance $1.88-$1.95 billion
• Successful outcome of TRuE-AD2 Phase 3 trial of ruxolitinib cream in patients with mild-to-moderate atopic dermatitis; TRuE-AD1 results expected in the first quarter of 2020

“Revenue growth continues to be very strong, driven by robust demand across all three indications for Jakafi,” stated Hervé Hoppenot, Chief Executive Officer, Incyte. “As we enter 2020, we have multiple opportunities for additional growth. We recently announced successful initial results from the Phase 3 TRuE-AD program, which we plan to include as part of the NDA in the fourth quarter of 2020 seeking approval of ruxolitinib cream for the treatment of patients with mild-to-moderate atopic dermatitis. We also look forward to the FDA decisions on the potential approvals of pemigatinib and capmatinib later this year. The recent progress made within both oncology and dermatology, as well as the recently announced MorphoSys collaboration for tafasitamab, positions Incyte very well as we deliver on our objectives for diversification and growth.”

For earnings history and earnings-related data on Incyte (INCY) click here.

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