Incyte (INCY) Misses Q3 EPS by 52c

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Price: $101.90 +3.75%

Financial Fact:
Income (loss) before income taxes: 38.3M

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Incyte (NASDAQ: INCY) reported Q3 EPS of $0.23, $0.52 worse than the analyst estimate of $0.75. Revenue for the quarter came in at $621 million versus the consensus estimate of $623.31 million.

2020 Financial Guidance

Incyte has tightened its full year 2020 guidance for Jakafi net product revenues, as detailed below. The company’s full year 2020 financial guidance is summarized in the following table. The R&D expense guidance excludes $805 million of upfront consideration paid under the MorphoSys collaboration and $120 million of expense related to the purchase of the FDA priority review voucher (PRV). The financial guidance also excludes the impact of any potential future strategic transactions.


All data in millions1	Current	Previous
Jakafi net product revenues	$1,910 - $1,940	$1,880 - $1,950
Iclusig net product revenues	$100 - $105	Unchanged
Cost of product revenues	$130 - $135	Unchanged
Research and development expenses (Excl. MOR upfront cons. & PRV)	$1,210 - $1,280	Unchanged
Selling, general and administrative expenses	$505 - $535	Unchanged
Change in fair value of acquisition-related contingent consideration	$25 - $27	Unchanged

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

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