Incyte (NasdaqGS:INCY) Q4 2025 Earnings call February 10, 2026 08:00 AM ET Company ParticipantsAlexis Smith - VP of Investor RelationsBill Meury - President and CEOBrandon Frith - Equity Research AssociateBrian Abrahams - Managing Director and Head of Global Healthcare ResearchErik Lavington - Equity Research AssociateEvan Seigerman - Managing Director and Head of Healthcare ResearchMadeline Kern - Equity Research AssociateMohamed Issa - EVP and Head of U.S. OncologyPablo Cagnoni - President and Head of R&D ...

Incyte (NasdaqGS:INCY) Q4 2025 Earnings call February 10, 2026 08:00 AM ET Company ParticipantsAlexis Smith - VP of Investor RelationsBill Meury - President and CEOBrandon Frith - Equity Research AssociateBrian Abrahams - Managing Director and Head of Global Healthcare ResearchErik Lavington - Equity Research AssociateEvan Seigerman - Managing Director and Head of Healthcare ResearchMadeline Kern - Equity Research AssociateMohamed Issa - EVP and Head of U.S. OncologyPablo Cagnoni - President and Head of R&D ...

Incyte (NasdaqGS:INCY) Q4 2025 Earnings call February 10, 2026 08:00 AM ET Speaker2Greetings, and welcome to the Incyte fourth quarter and year-end 2025 Financial Results Conference Call and Webcast. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. You may be placed into question queue at any time by pressing star one on your telephone keypad, and we ask that you please limit yourselves to one question then return to the queue. As a ...

03 R&D Highlights Pablo Cagnoni, MD | Head of R&D Alexis Smith | VP, Investor Relations 04 Financial Results Tom Tray | Principal Financial Officer 06 Q&A Fourth Quarter & Full-Year 2025 Financial & Corporate Update FEBRUARY 10, 2026 Agenda 01 Introduction Bill Meury | Chief Executive Officer 05 Closing Remarks Bill Meury | Chief Executive Officer Steven Stein, MD | EVP, Chief Medical Officer Dave Gardner | EVP, Chief Strategy Officer Mohamed Issa | EVP, Head of US Oncology 02 Opening Remarks Matteo Trotta ...

Key Takeaways INCY is set to report Q4 results with revenue estimates at $1.35B and earnings expected at $1.94 per share.INCY's Q4 results are driven by strong Jakafi sales, higher ex-U.S. royalties from NVS and Opzelura growth.INCY gained added support from new Monjuvi approvals and the U.S. launch of Niktimvo, despite rising expenses.We expect Incyte Corporation (INCY) to surpass estimates when it reports fourth-quarter 2025 earnings on Feb. 10, before the opening bell. The Zacks Consensus Estimate for th ...

Core Insights - Incyte Corporation (INCY) is a biopharmaceutical company with a market cap of $20.9 billion, focusing on innovative therapeutics in oncology, immunology, and dermatology [1] Financial Performance - Analysts expect Incyte to report a profit of $1.66 per share for fiscal Q4 2025, representing a 52.3% increase from $1.09 per share in the same quarter last year [2] - For fiscal 2025, EPS is forecasted to be $5.86, a significant increase from $0.08 in fiscal 2024 [3] - Incyte reported Q3 2025 results with adjusted EPS of $2.26 and total revenue of $1.37 billion, marking a 20% year-over-year growth [5] Product Performance - Key product revenues include Jakafi at $791 million, Opzelura at $188 million, and Niktimvo with $46 million in sales [5] - Incyte raised its full-year 2025 net product revenue guidance to between $4.23 billion and $4.32 billion [5] Stock Performance - INCY stock has increased by 50.7% over the past 52 weeks, outperforming the S&P 500 Index's gain of 19.7% and the State Street Health Care Select Sector SPDR ETF's return of 12.7% [4] Analyst Ratings - The consensus rating for INCY stock is "Moderate Buy," with 12 "Strong Buy," 12 "Holds," and one "Strong Sell" among 25 analysts [6] - The current trading price is above the average analyst price target of $102.09 [6]

Core Insights - The company has successfully transitioned to a commercial stage oncology company with the launch of two first and best-in-class medicines, Revuforj and Niktimvo, demonstrating significant potential for patient impact [3] - The company achieved three FDA approvals within approximately 14 months, showcasing its ability to deliver effective products rapidly [3] - There is strong momentum heading into 2026, with the company on the path to profitability, characterized by growing revenue and stable expenses [4] Company Developments - The launch of Revuforj and Niktimvo marks a significant milestone, indicating the company's commitment to innovation and patient care [3] - The rapid development timeline from bench to bedside in about four years is highlighted as an unprecedented achievement, reflecting the team's dedication [3] - The company is focused on maintaining its growth trajectory and financial stability as it approaches profitability [4]

Summary of Syndax Pharmaceuticals FY Conference Call Company Overview - **Company**: Syndax Pharmaceuticals (NasdaqGS:SNDX) - **Event**: 44th Annual JPMorgan Healthcare Conference - **Date**: January 12, 2026 - **Presenting**: CEO Michael Metzger Key Points Company Transformation and Product Launches - 2025 marked a transformational year for Syndax, transitioning to a commercial-stage oncology company with the launch of two first-in-class medicines: Revuforge and Niktimvo [2][3] - Achieved three FDA approvals within 14 months, demonstrating rapid product development and commitment to patient care [2] Financial Performance - The company reported approximately $400 million on the balance sheet, indicating strong financial health to support growth initiatives [3] - Revuforge generated $44 million in preliminary net revenue for Q4 2025, a 38% increase from the previous quarter, and $125 million for the full year [9][11] - Niktimvo generated $56 million in preliminary Q4 2025 net revenue, a 22% increase from the last quarter, and $152 million for the full year [22][23] Revuforge Insights - Revuforge is the first menin inhibitor approved for multiple acute leukemia subtypes, with a total addressable market of approximately $2 billion for relapsed refractory acute leukemia and $5 billion when considering front-line treatment [4][5] - The drug has shown unmatched efficacy and is well-tolerated, allowing for individual dosing and combination therapy with other medications [6][7] - The company has established a strong prescriber base and high reimbursement rates, with 97%-98% coverage from payers for KMT2A indications [8] Market Dynamics and Growth Strategy - The company is witnessing a shift towards earlier lines of therapy, with a growing number of patients being treated in second and third lines, which enhances response rates and treatment duration [12][13] - The approval of NPM1 has tripled the patient population eligible for treatment, further driving brand growth [14][15] - The company plans to advance clinical trials to support front-line use and explore additional indications, including myelofibrosis [18][27] Niktimvo Insights - Niktimvo is the first CSF1R blocking antibody approved for chronic GVHD, with a current market of 6,500 patients and a potential total addressable market of $2 billion [20][21] - The drug is expected to expand into front-line therapy, potentially reaching 15,000-17,000 patients [21] - The company has a robust clinical development plan for Niktimvo, including trials for chronic GVHD and idiopathic pulmonary fibrosis (IPF) [25][26] Future Outlook - Syndax is focused on generating value through data generation and clinical development in 2026, with several anticipated milestones, including top-line data for Axatilimab and pivotal trials for Revuforge [26][27] - The company aims to penetrate the KMT2A market further, targeting a 90% penetration rate over time [35] - The competitive landscape is acknowledged, but Syndax believes its best-in-class profiles and first-mover advantages will allow it to dominate the market [40] Additional Insights - Physicians have expressed strong interest in the combination of Niktimvo with existing therapies, which may drive earlier line utilization [53] - The company is confident in the efficacy of its drugs based on clinical data and physician feedback, with a significant percentage of patients remaining on therapy long-term [48] This summary encapsulates the key insights and strategic direction of Syndax Pharmaceuticals as discussed during the conference call.

Summary of Incyte Conference Call Company Overview - Incyte is positioned as a biotech company with the innovation and growth potential typical of smaller firms, combined with the capabilities and resources of larger pharmaceutical companies, aiming for top-tier revenue growth and durable earnings [2][3] Strategic Focus - The company is transitioning from being primarily known for Jakafi to a broader focus on hematology, oncology, and immunology (I&I) [4][5] - Incyte's R&D investment for 2026 is projected to exceed $2 billion, with 80% allocated to seven priority compounds, emphasizing a focused approach to spending [4][6] Financial Performance - Total sales for 2024 are expected to be approximately $3.62 billion, with projections for 2025 to reach around $4.32 billion, indicating strong growth [9] - The core business, excluding Jakafi, is anticipated to grow over 40% in 2025 compared to 2024 [6][9] Product Pipeline and Growth Drivers - Incyte's pipeline includes seven assets supported by 14 pivotal trials in 2026, with the potential to significantly increase top-line growth [7][8] - Key product launches expected to drive growth include Jakafi XR, Opzelura, povocitinib, and Monjuvi, with the core business projected to match Jakafi's current size by 2030 [7][8] Specific Product Insights - **Opzelura**: Expected to double in sales over the next five years, driven by increased market penetration in the U.S. and a planned launch in Europe [11][46] - **Niktimvo**: Annualizing at over $200 million with a 60%-70% persistency rate among patients, indicating strong potential for revenue growth [12][48] - **Monjuvi**: Recent positive phase 3 trial data in frontline DLBCL, with expectations for sustained growth due to its dual indication [13][48] Pipeline Development - The pipeline includes novel and first-in-class agents, with six of the seven programs in phase three trials, indicating a strong potential for achieving top-tier growth [14][15] - The MPN portfolio focuses on targeted therapies that modify disease rather than merely managing symptoms, with significant market opportunities identified [16][19] Regulatory and Market Strategy - Incyte is actively engaging with the FDA to align on regulatory paths for its pipeline assets, particularly 989 for myelofibrosis (MF) and essential thrombocythemia (ET) [17][36] - The company is also exploring opportunities in China, viewing it as both a competitor and a potential partner for innovation [35] Financial Management and Cost Control - Incyte plans to manage operating expenses carefully, with a projected 5%-10% reduction in G&A expenses while increasing R&D spending by over 10% [25][26] - The focus is on creating a sustainable growth trajectory post-2029, balancing investment in core business and R&D [25][26] Market Position and Competitive Landscape - Incyte's strategy emphasizes building franchises in hematology and oncology, aiming for operational and financial advantages [5][6] - The company is not pursuing unrelated product configurations but is focused on creating a cohesive portfolio that provides clarity for employees and predictability for investors [5][6] Conclusion - Incyte is strategically positioned for significant growth through focused R&D investments, a robust pipeline, and a commitment to operational excellence, with a clear roadmap for achieving top-tier revenue growth and market leadership in hematology and oncology [8][9]

Company Overview - Incyte Corporation, based in Wilmington, Delaware, has a market cap of $18.7 billion and focuses on the discovery, development, and commercialization of innovative therapeutics across the U.S., Europe, Canada, and Japan [1] - The company is classified as a "large-cap" stock, with a strong clinical-stage pipeline supported by internal research and strategic collaborations [2] Stock Performance - Incyte's shares are down 12.7% from their 52-week high of $109.28, but have risen 14.8% over the past three months, outperforming the Nasdaq Composite's 4.8% gain during the same period [3] - Year-to-date, INCY stock is up 38.1%, exceeding the Nasdaq's 20.1% increase, and has gained 34.7% over the past 52 weeks compared to the Nasdaq's 16.5% return [4] Financial Results - Incyte reported Q3 2025 results on October 28, with adjusted EPS of $2.26 and total revenue of $1.37 billion, reflecting a 20% year-over-year increase [5] - The company reported strong product performance, with Jakafi revenue at $791 million, Opzelura at $188 million, and early uptake of Niktimvo generating $46 million in sales [5] - Incyte raised its full-year 2025 net product revenue guidance to between $4.23 billion and $4.32 billion, although the stock fell 1.5% on the day of the announcement [5] Analyst Sentiment - Compared to rival Exelixis, which has gained 22.8% year-to-date and 16.2% over the past 52 weeks, Incyte's performance has been stronger [6] - Analysts maintain a consensus rating of "Moderate Buy" for Incyte, with a mean price target of $101, indicating a potential premium of 5.9% to current levels [6]