WILMINGTON, Del.--(BUSINESS WIRE)--Incyte (Nasdaq:INCY) announced today that it has scheduled its fourth quarter and year-end 2023 financial results conference call and webcast for 8:00 a.m. ET on Tuesday, February 13, 2024. The schedule for the press release and conference call/webcast is as follows: Q4 & YE 2023 Press Release: February 13, 2024 at 7:00 a.m. ET Q4 & YE 2023 Conference Call: February 13, 2024 at 8:00 a.m. ET Domestic Dial-In Number: 877-407-3042 International Dial-In Number: 201-38 ...

Financial Data and Key Metrics Changes - Total product revenues for Q3 2023 were $783 million, representing a 10% year-over-year increase, while total product revenues for the first nine months of 2023 were $2.3 billion, reflecting a 16% year-over-year increase [56] - Jakafi net product revenues were $636 million for Q3 and $1.9 billion for the first nine months of 2023, with an 8% growth compared to the same period last year [15][27] - Opzelura net product revenues for Q3 were $92 million, a 141% increase year-over-year, with total revenues for the first nine months reaching $229 million [57][27] Business Line Data and Key Metrics Changes - Jakafi experienced steady demand growth, with total patients growing 8% year-over-year across all indications [30] - Opzelura's growth was driven by new patient flow and refills, with total prescriptions growing 72% year-over-year and refills increasing by 19% compared to the prior quarter [46][13] - The gross-to-net for Opzelura in Q3 was 54%, down from 55% in Q2 and 60% in Q1, with expectations to remain around the 55% level [16] Market Data and Key Metrics Changes - Approximately 84% commercial coverage for Opzelura in atopic dermatitis, covering over 127 million lives, and significant progress in vitiligo coverage, improving by roughly 30% throughout 2023 [76] - The anticipated preferred brand status for Opzelura on CVS Caremark and Aetna formularies starting in 2024 is expected to benefit around 30 million commercial lives [28] Company Strategy and Development Direction - The company is focusing on eight high-potential programs to increase decision-making rigor, accelerate pipeline progression, and optimize resource allocation [48] - The introduction of a novel program targeting the JAK2V617F mutation is expected to solidify the company's leadership in myeloproliferative neoplasms [49][50] - The company plans to initiate a Phase III study for povorcitinib in 2024, following positive Phase II results [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term potential of Opzelura, citing strong uptake and positive momentum [13] - The company expects Jakafi to continue being a leader in myelofibrosis, particularly with new data showing a 44% reduction in the risk of major thrombosis for patients switched to Jakafi [45] - Management highlighted the importance of early intervention for patients with polycythemia vera (PV) and the potential for increased market penetration [21] Other Important Information - Total R&D expenses for Q3 were $376 million, a 2% year-over-year decrease, while total SG&A expenses were $268 million, representing a 1% year-over-year growth [87] - The company reported a $14 million negative impact on reported net sales due to a decrease in inventory levels during Q3 [86] Q&A Session Summary Question: How is the company thinking about the competitive landscape regarding Jakafi and the new approval for momelotinib? - Management noted that Jakafi remains the only drug with superior overall survival in myelofibrosis patients, despite the presence of other JAK inhibitors [65] Question: Can you provide insight on Opzelura's gross-to-net trends and any pricing concessions? - Management indicated that while there are negotiations with payers, the goal is to increase volume and access for patients, with expected improvements in copays [68] Question: What is the expected rate of tubes per patient for atopic dermatitis and vitiligo? - The company expects around two tubes per patient for atopic dermatitis, while more data is needed for vitiligo [95] Question: Can you discuss the Medicaid penetration for Opzelura? - Medicaid patients account for about 14% of paid patients, with good coverage across all states [128]

Incyte . xx Key Highlights Hervé Hoppenot Chief Executive Officer R&D Update Steven Stein Chief Medical Officer 2 3 HERVÉ HOPPENOT - CEO (Incyte) 5 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------|-------------------------------------|-------|-------|-------|-------|-------------------------------------------------------|-------|-------| | | Standard Benefit \nBeginning 2025 | 2025 | 2026 | 2027 | 2028 | Specified Small Manufacturer Phase-In Schedule \n2029 | 2030 | 2031 | | ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-12400 INCYTE CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdict ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-12400 INCYTE CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction o ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-12400 INCYTE CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction ...

Incyte Corporation (NASDAQ:INCY) Q4 2022 Earnings Conference Call February 7, 2023 8:00 AM ET Company Participants Christine Chiou - Head, Investor Relations Hervé Hoppenot - Chairman, President and Chief Executive Officer Barry Flannelly - Executive Vice President and General Manager-North America Steven Stein - Executive Vice President and Chief Medical Officer Christiana Stamoulis - Executive Vice President and Chief Financial Officer Dash Dhanak - Executive Vice President and Chief Scientific Officer Co ...

Financial Performance - Total revenues for 2022 increased to $3,394,635K, up 13.7% from $2,986,267K in 2021[445] - Net income for 2022 decreased to $340,660K, down 64.1% from $948,581K in 2021[445] - Cash and cash equivalents increased to $2,951,422K in 2022, up 43.5% from $2,057,440K in 2021[442] - Research and development expenses for 2022 were $1,585,936K, up 8.8% from $1,458,179K in 2021[445] - Product revenues, net for 2022 increased to $2,746,897K, up 18.3% from $2,322,012K in 2021[445] - Total assets for 2022 increased to $5,840,984K, up 18.4% from $4,933,352K in 2021[442] - Accumulated deficit improved to $(437,214)K in 2022, compared to $(777,874)K in 2021[450] - Basic net income per share for 2022 was $1.53, down 64.4% from $4.30 in 2021[445] - Total stockholders' equity for 2022 increased to $4,370,119K, up 15.9% from $3,770,004K in 2021[442] - Comprehensive income for 2022 was $375,183K, down 60.3% from $944,487K in 2021[447] - Net income for 2022 was $340.66 million, a significant decrease from $948.58 million in 2021, and a recovery from a loss of $295.70 million in 2020[452] - Net cash provided by operating activities in 2022 was $969.94 million, up from $749.49 million in 2021 and a significant improvement from a net cash used in operating activities of $124.60 million in 2020[452] - Depreciation and amortization expenses increased to $67.86 million in 2022, compared to $57.84 million in 2021 and $51.81 million in 2020[452] - Stock-based compensation rose to $188.42 million in 2022, up from $183.01 million in 2021 and $177.88 million in 2020[452] - Net cash used in investing activities decreased to $78.54 million in 2022, compared to $207.70 million in 2021 and $269.00 million in 2020[452] - Cash, cash equivalents, and restricted cash at the end of 2022 stood at $2.95 billion, up from $2.06 billion in 2021 and $1.51 billion in 2020[452] - Income taxes paid in 2022 were $136.24 million, significantly higher than $67.73 million in 2021 and $70.71 million in 2020[452] - Total product revenues for 2022 were $2,746.9 million, with JAKAFI contributing $2,409.2 million, ICLUSIG $105.8 million, PEMAZYRE $83.4 million, MINJUVI $19.7 million, and OPZELURA $128.7 million[503] - Total product royalty revenues for 2022 were $482.7 million, with JAKAVI contributing $331.6 million, OLUMIANT $134.5 million, TABRECTA $15.4 million, and PEMAZYRE $1.2 million[503] - Milestone and contract revenues for 2022 were $165.0 million, compared to $95.0 million in 2021 and $205.0 million in 2020[503] - The fair value of acquisition-related contingent consideration decreased to $221.0 million in 2022 from $244.0 million in 2021, primarily due to updated projections of future net revenues of ICLUSIG[512] - The company's cash and cash equivalents increased to $2,951.4 million in 2022 from $2,057.4 million in 2021[511] - Debt securities (government) had an estimated fair value of $287.5 million in 2022, down from $290.8 million in 2021[506] - Long term investments decreased to $133.7 million in 2022 from $221.3 million in 2021[511] - The company's total assets measured at fair value were $3,372.6 million in 2022, up from $2,569.5 million in 2021[511] - The company's total liabilities measured at fair value were $221.0 million in 2022, down from $244.0 million in 2021[512] - Contingent consideration earned but not yet paid was $9.3 million as of December 31, 2022, compared to $19.6 million in 2021[513] - Collaboration partners comprised 20% and 36% of the accounts receivable balance as of December 31, 2022 and 2021, respectively[515] - Customer A accounted for 19% of total net product revenues in 2022, up from 18% in 2021[516] - Total inventory increased to $120.96 million as of December 31, 2022, from $56.94 million in 2021[521] - The company recognized $157.0 million in development milestones, $340.0 million in regulatory milestones, and $200.0 million in sales milestones under the Novartis agreement through December 31, 2022[524] - Royalties on JAKAVI net sales outside the U.S. totaled $331.6 million in 2022, compared to $338.0 million in 2021[530] - The company recognized $70.0 million in milestone and contract revenue under the Lilly agreement in 2022, up from $50.0 million in 2021[537] - The company recorded $134.5 million in product royalty revenues related to Lilly's net sales of OLUMIANT outside the U.S. in 2022, down from $220.9 million in 2021[537] - The company made a $20.0 million milestone payment to Lilly in March 2022 following the European Medicines Agency's positive recommendation for ruxolitinib in the GVHD field[538] - Agenus is eligible to receive up to an additional $500.0 million in future contingent development, regulatory, and commercialization milestones across all programs in the collaboration[540] - The fair market value of the long-term investment in Agenus as of December 31, 2022, was $29.0 million, down from $38.9 million in 2021[541] - Merus is eligible to receive up to $100.0 million in future contingent development and regulatory milestones and up to $250.0 million in commercialization milestones for programs without co-funding rights[545] - The fair market value of the long-term investment in Merus as of December 31, 2022, was $54.9 million, down from $112.9 million in 2021[547] - MacroGenics is eligible to receive up to an additional $335.0 million in future contingent development and regulatory milestones and up to $330.0 million in sales milestones[554] - Research and development expenses under the MacroGenics agreement totaled $89.2 million for the year ended December 31, 2022[556] - Syros is eligible to receive up to $54.0 million in target selection and option exercise fees and up to $50.0 million in development and regulatory milestones for each of the seven validated targets[557] - The fair market value of the long-term investment in Syros as of December 31, 2022, was $0.3 million, down from $3.1 million in 2021[558] - Zai Lab terminated the agreement for INCMGA0012 development and commercialization rights in mainland China, Hong Kong, Macau, and Taiwan, effective January 11, 2023[560] - The fair market value of the long-term investment in Calithera as of December 31, 2022, was $0.3 million, down from $1.1 million in 2021[550] - The company recorded a 50% share of US losses for tafasitamab commercialization: $8.0 million in 2022, $37.0 million in 2021, and $42.8 million in 2020. R&D expenses for tafasitamab were $99.7 million in 2022, $77.0 million in 2021, and $88.2 million in 2020[566] - The company entered a collaboration with Syndax for axatilimab, paying an upfront $117.0 million in 2021. Syndax is eligible for up to $220.0 million in development milestones and $230.0 million in sales milestones, with royalties ranging from mid-teens to low double digits[569] - The company purchased 1.4 million shares of Syndax common stock for $35.0 million in 2021, with a fair market value of $36.2 million as of December 31, 2022[570] - The company entered a collaboration with CMS Aesthetics for ruxolitinib cream in Greater China and Southeast Asia, receiving an upfront payment of $30.0 million in 2022[572] - Property and equipment, net, totaled $739.3 million as of December 31, 2022, up from $723.9 million in 2021. Depreciation expense was $46.3 million in 2022, $36.3 million in 2021, and $29.6 million in 2020[574][576] - The company capitalized $158.2 million in building and office equipment for its new laboratory and office building in Wilmington, Delaware, completed in December 2021[577] - The company's total lease liabilities as of December 31, 2022, were $55.6 million, with a weighted average lease term of 12.0 years for finance leases and 5.5 years for operating leases[581][584] - Operating lease expenses for 2022 were $11.7 million, a decrease from $14.2 million in 2021 and $12.5 million in 2020[587] - Amortization expense for intangible assets was $21.5 million annually for 2022, 2021, and 2020, with future amortization projected at $21.536 million per year through 2027[588] - Total accrued and other current liabilities increased to $701.053 million in 2022 from $533.595 million in 2021, driven by higher royalties ($263.466 million) and sales allowances ($192.133 million)[590] - The company has 5,428,932 shares of common stock available for future issuance under stock compensation plans as of December 31, 2022[592] - The 2010 Stock Incentive Plan was amended in May 2021 to increase reserved shares from 44,453,475 to 53,953,475[594] Financial Risks and Liabilities - The company had an accumulated deficit of $0.4 billion as of December 31, 2022[309] - The company may need additional capital in the future, which could impact research and development or commercialization efforts[313] - The company's marketable securities and long-term investments are subject to risks that could adversely affect its financial position[315] - The company's marketable securities were valued at $287.5 million as of December 31, 2022, primarily composed of U.S. government securities[426] - The company's acquisition-related contingent consideration liability was $221.0 million as of December 31, 2022, subject to significant estimation uncertainty[439] - Liabilities related to sales allowances, including Medicaid Drug Rebate Program rebates, totaled $192.1 million as of December 31, 2022[436] - The company's IT systems are vulnerable to disruptions, malicious intrusion, and cybersecurity risks, exacerbated by remote work due to COVID-19[334] - The company's reliance on third-party IT systems and social media usage increases risks of data breaches and reputational damage[336][339] - The company's IT system enhancements may not result in productivity improvements sufficient to outweigh implementation costs[335] - The company's marketable securities consist of investments in U.S. government debt securities, classified as available-for-sale and carried at fair value[461] - Inventory costs are primarily accounted for under the specific identification method, with inventory capitalized after regulatory approval[463] - The company evaluates potential excess inventory by analyzing current and future product demand relative to the remaining product shelf life, which is approximately 36 months for most products[464] - Goodwill impairment assessment completed as of October 1, 2022, with no impairment identified[472] - Valuation allowance on the majority of U.S. deferred tax assets released as of December 31, 2021[473] - Revenue recognition follows ASC 606, with revenue recognized when control of goods or services is transferred to customers[477] - Revenue recognition net of allowances for customer credits, including rebates, chargebacks, discounts, and government rebates[479] - Full buy-down programs for OPZELURA ended effective January 31, 2023[481] - Medicare Part D coverage gap funding increased by 30% starting January 2020 due to changes in the True Out of Pocket (TrOOP) calculation methodology[483] - Royalty revenues recognized from sales of JAKAVI, OLUMIANT, TABRECTA, and PEMAZYRE by Novartis, Lilly, and Innovent[485] - Milestone revenues recognized upon achievement of pre-specified developmental or regulatory events[489] - Research and development costs expensed as incurred, including collaboration payments and clinical trial expenses[494] - Advertising expenses for 2022 were $196.4 million, a significant increase from $66.0 million in 2021 and $28.9 million in 2020[497] Intellectual Property and Legal Risks - The company faces risks related to intellectual property, including potential infringement claims and the need to protect proprietary information[322][325] - The company may be involved in future lawsuits or legal proceedings, which could be costly and disrupt drug discovery and development efforts[324] - The company's patents may be challenged, invalidated, or fail to provide competitive advantages, potentially impacting revenues[325][331] - The company's foreign patent protection is uncertain and costly, with potential loss of rights in certain jurisdictions[333] - The company's patent litigation risks have increased due to recent U.S. Supreme Court rulings on reverse payment settlements[332] Regulatory and Tax Risks - Changes in tax laws, such as the Tax Cuts and Jobs Act of 2017 and the Inflation Reduction Act of 2022, could adversely affect the company's tax liability and financial condition[319] - The company faces potential fines of up to €20 million or 4% of annual global revenues for noncompliance with the GDPR[338] Research and Development - The company anticipates increased expenditures on drug discovery and development, including preclinical tests and clinical trials[310] - The company has not generated significant revenues from drug products other than JAKAFI and cannot assure substantial revenues from drug candidates like ICLUSIG, PEMAZYRE, MONJUVI/MINJUVI, and OPZELURA[311] - The company is implementing a new enterprise resource planning system, which involves substantial capital expenditures and operational risks[335] - The company completed the acquisition of Villaris Therapeutics for an upfront payment of $70.3 million, with potential milestone payments up to $1.05 billion[518][520] - The company received exclusive commercialization rights outside the US for tafasitamab, with co-commercialization rights in the US shared with MorphoSys. The company is responsible for 55% of global and US-specific clinical trial costs, while MorphoSys covers 45%[562] - The company paid MorphoSys an upfront non-refundable payment of $750.0 million in 2020, with potential future milestones of up to $737.5 million for development and regulatory, and $315.0 million for commercialization. Royalties range from mid-teens to mid-twenties on net sales outside the US[563] - The company purchased MorphoSys ADSs for $150.0 million, with a fair market value of $13.0 million as of December 31, 2022, down from $34.2 million in 2021[564]

官方 | W ■ == 00 00 10 100 Incyte 2022 Third Quarter Financial and Corporate Update NÖVEMBER 1, 2022 Forward-Looking Statements 2 Except for the historical information set forth herein, the matters set forth in this presentation contain predictions, estimates and other forward-looking statements, including any discussion of the following: the growth potential of Incyte's oncology and dermatology franchises and the opportunities presented by Incyte's portfolio; expectations with respect to demand for and uptak ...

Incyte Corporation (NASDAQ:INCY) Q3 2022 Earnings Conference Call November 1, 2022 8:00 AM ET Company Participants Christine Chiou - Head, Investor Relations Hervé Hoppenot - Chairman, President and Chief Executive Officer Barry Flannelly - Executive Vice President and General Manager-North America Steven Stein - Executive Vice President and Chief Medical Officer Christiana Stamoulis - Executive Vice President and Chief Financial Officer Dash Dhanak - Executive Vice President and Chief Scientific Officer Co ...