NASDAQ$INCY
Incyte Corp. · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Achieved double-digit revenue growth driven by Jakafi and Opzelura performance, while making progress in myeloproliferative neoplasms (MPNs) programs and receiving positive top line results from the Phase 2 study of povorcitinib in prurigo nodularis (PN).
Incyte reported a 12% year-over-year increase in total revenues, reaching $919 million in Q3 2023. This growth was primarily driven by the sustained performance of Jakafi and the increasing contribution from Opzelura. The company also made significant progress in its early programs in myeloproliferative neoplasms (MPNs) and received positive top line results from the Phase 2 study of povorcitinib in prurigo nodularis (PN).
- Total revenues reached $919 million in Q3 2023, a 12% increase year-over-year.
- Jakafi net product revenues were $636 million in Q3 2023, a 3% increase year-over-year.
- Opzelura net product revenues were $92 million in Q3 2023, a 141% increase year-over-year.
- A Phase 3 study in PN is being planned following positive results from Phase 2 study of povorcitinib.
Headline financials
Revenue & EPS history
Incyte · Revenue · Quarterly
$919M
Revenue by segment
Incyte · $775M total across 5 segments · Q3 2023
- Jakafi$636M+2.7%82.1%
- Opzelura$91.8M+140.8%11.9%
- Iclusig$27.7M+6.9%3.6%
- Pemazyre$18.9M-19.1%2.4%
- Zynyz$98—0.0%
Forward guidance
Incyte is tightening its full year 2023 guidance for Jakafi net product revenues to a new range of $2.59 - $2.62 billion. Guidance does not include revenue from any potential new product launches or the impact of any potential future strategic transactions.
Tailwinds
- Jakafi net product revenues are expected to be between $2.59 and $2.62 billion.
- Other Hematology/Oncology net product revenues are expected to be between $215 and $225 million.
- GAAP Cost of product revenues are expected to be 7 – 8% of net product revenues.
- GAAP Research and development expenses are expected to be $1,610 - $1,650 million.
- GAAP Selling, general and administrative expenses are expected to be $1,050 - $1,150 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.3%
Avg return
Earnings day
-1.4%
Avg return
5 days after
+0.6%
Avg return
30 days after
50%
32 / 64 earnings
Positive
+18.2%
Q1 2012
Best reaction
-25.8%
Q2 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.2% | +1.2% | +0.8% | |
| Q4 2025 | -8.2% | -7.3% | -15.6% | |
| Q3 2025 | -1.6% | +0.4% | +13.5% | |
| Q1 2025 | +1.5% | +5.1% | +11.0% | |
| Q4 2024 | -7.9% | -5.0% | -8.6% | |
| Q3 2024 | +12.5% | +15.9% | +14.9% | |
| Q2 2024 | -5.1% | -6.0% | -3.9% | |
| Q1 2024 | +0.7% | +2.3% | +9.0% | |
| Q4 2023 | +0.1% | +0.2% | +1.2% | |
| Q3 2023 | +4.2% | +5.2% | +4.2% | |
| Q2 2023 | +3.1% | -0.1% | +1.3% | |
| Q1 2023 | -9.7% | -11.7% | -18.4% | |
| Q4 2022 | -4.6% | -6.0% | -13.6% | |
| Q3 2022 | +3.8% | +4.0% | +8.5% | |
| Q2 2022 | -6.3% | -6.8% | -7.8% | |
| Q1 2022 | +6.1% | -1.1% | -1.9% | |
| Q4 2021 | -6.9% | -9.0% | +0.2% | |
| Q3 2021 | -3.7% | -2.1% | -3.9% | |
| Q2 2021 | -1.4% | -2.8% | -1.6% | |
| Q1 2021 | -5.0% | -3.3% | -3.1% | |
| Q4 2020 | -9.0% | -9.9% | -15.1% | |
| Q3 2020 | -8.8% | -8.9% | -8.8% | |
| Q2 2020 | -4.1% | -4.8% | -10.0% | |
| Q1 2020 | -4.9% | -5.0% | -7.1% | |
| Q4 2019 | +3.5% | +4.6% | -2.6% | |
| Q3 2019 | +4.8% | +4.7% | +17.9% | |
| Q2 2019 | +5.8% | +4.0% | +2.7% | |
| Q1 2019 | +6.1% | +11.7% | +5.9% | |
| Q4 2018 | +3.8% | +3.7% | +4.6% | |
| Q3 2018 | +2.4% | +6.5% | +2.3% | |
| Q2 2018 | -4.4% | -8.1% | +7.4% | |
| Q1 2018 | -1.4% | +0.3% | +10.2% | |
| Q4 2017 | -2.4% | -3.0% | +2.1% | |
| Q3 2017 | -5.5% | -8.0% | -13.3% | |
| Q2 2017 | -5.7% | -3.4% | +3.1% | |
| Q1 2017 | -0.6% | -2.8% | +6.7% | |
| Q4 2016 | -0.2% | -0.5% | +22.5% | |
| Q3 2016 | +0.2% | +0.7% | +14.9% | |
| Q2 2016 | -5.2% | -7.9% | -7.4% | |
| Q1 2016 | +4.0% | — | — | |
| Q4 2015 | -5.5% | — | — | |
| Q3 2015 | -2.9% | — | — | |
| Q2 2015 | +6.7% | — | — | |
| Q1 2015 | -3.3% | — | — | |
| Q4 2014 | -0.0% | — | — | |
| Q3 2014 | +15.9% | — | — | |
| Q2 2014 | -4.9% | — | — | |
| Q1 2014 | +6.3% | — | — | |
| Q4 2013 | +0.2% | — | — | |
| Q3 2013 | +4.7% | — | — | |
| Q2 2013 | +14.7% | — | — | |
| Q1 2013 | +3.3% | — | — | |
| Q4 2012 | +18.0% | — | — | |
| Q3 2012 | +6.8% | — | — | |
| Q2 2012 | -25.8% | — | — | |
| Q1 2012 | +18.2% | — | — | |
| Q4 2011 | +1.7% | — | — | |
| Q3 2010 | +0.9% | — | — | |
| Q3 2011 | +0.9% | — | — | |
| Q2 2010 | +0.0% | — | — | |
| Q2 2011 | +0.0% | — | — | |
| Q4 2010 | +6.0% | — | — | |
| Q1 2010 | +6.0% | — | — | |
| Q1 2011 | +6.0% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro