solana people, stop getting cockywe are doing well, but still behind or underwhelming on many dimensionsespecially remember this as you look to pick silly knife fights with each other vs. competing on productit can all be taken from you in a single day, get to work ...

Had two very interesting calls today with two very interesting teams building very interesting products.I'm involved in both and you will see them on your timeline very soon (in a big way) ...

Most of the things people believe are important when running a company are just distractions.Build a product people want and the rest usually takes care of itself. ...

Program Overview - A month-long program from idea to product [1] - Culminates in Codebase exposure and milestone grants [1] Call to Action - Encourages application or following along via provided link [1]

Product & Presentation - The industry suggests that product strength is inversely proportional to slide fanciness [1] - Investor perspective: Key information can be effectively conveyed through text bullet points and bar charts [1] - The industry emphasizes prioritizing product development over elaborate presentations [1]

Financial Data and Key Metrics Changes - Total product revenues for Q2 reached $1,060 million, a 17% increase year-over-year, driven by strong demand for Jakafi and Opsilura, as well as contributions from Nictimvo's launch [22][20] - Total revenues were $1,220 million, up 16% compared to the same period last year [22] - Jakafi net product revenue was $764 million for Q2, representing an 8% growth year-over-year [22] - Opsilura's total net product revenue for Q2 was $164 million, a 35% increase year-over-year [23] - The company raised its full-year revenue guidance for Jakafi to a range of $3,000 million to $3,050 million [22] Business Line Data and Key Metrics Changes - Opsilura's U.S. net product revenue was $132 million, up 19% year-over-year, driven by increased patient demand [24] - Nictimvo's net product revenues in Q2 were $36 million, with strong commercial execution and high patient need [25] - Other hematology-oncology products generated net product revenues of $131 million, a 66% year-over-year increase, primarily due to the Nectinvo launch [27] Market Data and Key Metrics Changes - Opsilura has close to 20,000 prescribers and is showing strong growth across atopic dermatitis and vitiligo [9] - Nictimvo achieved approximately 82% account penetration with rapid uptake in BMT centers across the U.S. [25] - The company expects continued strong performance in the pediatric indication for Opsilura, with an FDA approval anticipated in September [20] Company Strategy and Development Direction - The company aims to build a comprehensive plan for acceleration that includes R&D productivity, operating expenses, and capital allocation [11] - Strategic priorities include taking care of core products, accelerating product development, and careful capital allocation [16][19] - The focus is on converting scientific advancements into regulatory approvals and business results, particularly in hematology oncology and immunology [10][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential for new product flow and emphasized the importance of execution in driving growth [19][40] - The company is navigating challenges to transition to new product growth drivers by 2029 [8] - Management highlighted the strong demand for Jakafi and Opsilura, with expectations for continued growth if execution remains strong [20][40] Other Important Information - The company recorded a benefit of $242 million from a contract dispute settlement with Novartis, which also reduced COGS [28] - R&D expenses for Q2 were $495 million, with an increase of 8% year-over-year, driven by investments in late-stage development assets [29] - The company plans to present full Phase III results for ruxolitinib cream and advance povastatinib in three indications, with significant opportunities for revenue creation [38][39] Q&A Session Summary Question: Importance of therapeutic areas at Incyte - Management indicated that MPNs are the most important therapeutic area, with a focus on transforming treatment in this space [44][45] Question: Read-through from Kallar data for ET and expectations for MF - Management noted that the mechanism of action for the mutant CalR antibody suggests a high probability of success in MF based on ET data [54][55] Question: Initial data for six seventeen F and enthusiasm for povastatin - Management explained that the delay in data release is due to the need for higher doses and longer follow-up to obtain comprehensive data [60] Question: Dynamics of Nictimvo launch and inventory impact - Management highlighted strong penetration in the market and noted that inventory accounted for less than 5% of Q2 sales, indicating strong demand [77] Question: Balancing investment in pipeline advancement and external opportunities - Management emphasized the importance of capital allocation and the need to evaluate both internal and external investments without forcing a specific ratio [97][100]

Core Product Development Principle - Shipping something to someone always wins, emphasizing rapid iteration and feedback loops over big launches [1][34] - The key is enabling rapid iterative loops to get feedback from real users and maximize shots at the goal [1] - In the age of AI, this translates to building a "skateboard" first, then evolving it to a "car," ensuring a continuously viable product [2][4] - A continuously viable solution is significantly more valuable because it provides feedback along the way, avoiding building in a vacuum [5][6] Feedback Loop Implementation - Establish a feedback loop with real users who can see something, provide feedback, and allow for iterative improvements, ideally within a day [7] - Being able to ship every day is crucial for a fast feedback loop, requiring specific focus on the target customers [9] - Work with real people (not just personas) to understand their problems and build empathy [10][11] - Write the PI (Product Information) FAQ or launch blog post early to sanity check and communicate the product effectively [12] Navigating Constraints and AI Integration - Design the best product first, before considering constraints like legal, compliance, and financial aspects [15] - AI accelerates all aspects of product building, but the fundamental process of talking to users and getting feedback remains the same [26] - Product management becomes more critical as the cost of writing code approaches zero, emphasizing customer knowledge and rapid feedback [28][29]

Company Overview - Nilörn Group is a global company established in the 1970s, specializing in adding value to brands through branding and design, particularly in labels, packaging, and accessories for the fashion and clothing industry [1] - The company provides comprehensive, creative, and customized solutions in branding, design, product development, and logistics [1] - Nilörn Group operates through its own subsidiaries in multiple countries, including Sweden, Denmark, the UK, Germany, Belgium, Portugal, Hong Kong, India, Turkey, China, Bangladesh, Italy, Switzerland, Vietnam, the USA, and Pakistan [1] Upcoming Presentation - A presentation will be held via Teams on July 16 at 08:30 am CET, where the CEO will present the report [2] - Participants can register for the presentation through a provided link [2]

User Acquisition - The primary challenge is acquiring users [1] - Success hinges on creating a desirable product and effectively promoting it [1] Product Development - The real difficulty lies in creating a product that people desire [1] Funding - Securing funding is challenging without a product that attracts users [1]

Technology Evolution - Technology potential is increasing significantly with the evolution of computing [1] - Products need to evolve rapidly because yesterday's solutions may not be useful today, emphasizing the need for adaptation and speed [2] - Optimizing for speed is crucial, rather than striving for a perfect but static product [2] Challenges of Speed and Scale - Evolving products rapidly becomes challenging when hundreds or thousands are already deployed [3] - Managing training, production at scale, and continuous evolution simultaneously is a key problem [4]