Incyte Clocks Mixed Q3 Earnings, But Analyst Sees A Strong Quarter For Jakafi And Opzelura

On Tuesday, Incyte Corporation (NASDAQ:INCY) reported third-quarter revenue of $1.14 billion, up 24% year over year and beating the consensus of $1.08 billion.

The company reported adjusted EPS of $1.07, down from $1.10 a year ago and missing the consensus estimate of $1.09.

Jakafi (ruxolitinib) net product revenues increased to $741.18 million, up 16% year over year, primarily due to a 10% increase in total demand.

Channel inventory at the end of the third quarter of 2024 was within the normal range.

For the quarter ended September 30, total royalty revenues grew by 20%, driven by 20% and 17% growth in Jakavi and Olumiant royalty revenues, respectively.

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