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Incyte Tops Q4 EPS by 32c

Published 07/02/2023, 13:20
INCY
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Incyte (INCY) reported Q4 EPS of $0.62, $0.32 better than the analyst estimate of $0.30. Revenue for the quarter came in at $926.7 million versus the consensus estimate of $878.16 million.

2023 Financial Guidance

Guidance does not include revenue from any potential new product launches or the impact of any potential future strategic transactions. Incyte’s guidance is summarized below.

Current

Jakafi net product revenues

$2.53 - $2.63 billion

Other Hematology/Oncology net product revenues(1)

$215 - $225 million

GAAP Cost of product revenues

7 – 8% of net product revenues

Non-GAAP Cost of product revenues(2)

6 – 7% of net product revenues

GAAP Research and development expenses

$1,610 - $1,650 million

Non-GAAP Research and development expenses(3)

$1,485 - $1,520 million

GAAP Selling, general and administrative expenses

$1,050 - $1,150 million

Non-GAAP Selling, general and administrative expenses(3)

$965 - $1,060 million

1

Pemazyre in the U.S., EU and Japan and Iclusig and Minjuvi in the EU.

2

Adjusted to exclude the amortization of licensed intellectual property for Iclusig relating to the acquisition of the European business of ARIAD Pharmaceuticals, Inc. and the estimated cost of stock-based compensation.

3

Adjusted to exclude the estimated cost of stock-based compensation.

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