Incyte(US:INCY)2024-04-30 12:11Financial Performance - Total net revenues for Q1 2024 were $881 million, a 9% increase year-over-year compared to $809 million in Q1 2023[79] - Jakafi net sales in Q1 2024 were $572 million, a 1% decrease year-over-year compared to $580 million in Q1 2023[79] - Opzelura net sales in Q1 2024 were $86 million, a 52% increase year-over-year compared to $57 million in Q1 2023[79] - Royalty revenues in Q1 2024 were $126 million, a 9% increase year-over-year compared to $115 million in Q1 2023[79] - The company is reiterating its FY'24 Jakafi net sales guidance of $269 to $275 billion[23] Pipeline Development - Axatilimab is under priority review for 3L+ cGVHD with potential approval in 2H 2024[35, 51] - A Phase 3 study of BETi + ruxolitinib is expected to be initiated[20, 91] - A Phase 3 trial of povorcitinib in prurigo nodularis is expected to be initiated in 2024[20, 85, 91] - The company anticipates several potential launches starting in 2029[13] Strategic Initiatives - Incyte is acquiring Escient Pharmaceuticals in an all-cash transaction for $750 million, expected to close by Q3 2024[72, 126]