Incyte (INCY) Misses Q2 EPS by 269c; raises guidance

Incyte (NASDAQ: INCY) reported Q2 EPS of ($1.82), $2.69 worse than the analyst estimate of $0.87. Revenue for the quarter came in at $1.04 billion versus the consensus estimate of $1.02 billion.

GUIDANCE:

Incyte is raising the low end of its full year 2024 Jakafi revenue guidance as well as updating its full year 2024 research and development guidance to reflect the ongoing impact of the acquisition of Escient Pharmaceuticals. The research and development guidance excludes $691 million of upfront consideration recorded relating to the acquisition of Escient Pharmaceuticals. Incyte is maintaining its full year 2024 other hematology/oncology revenue guidance, as well as its cost of product revenue and selling, general and administrative guidance.

Incyte sees FY2024 Jakafi net product revenues to $2.71-2.75 billion.

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

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