Profile
Sector:
HealthcareIndustry:
BiotechnologyCountry:
United StatesIPO:
04 November 1993Website:
http://www.incyte.comNext earnings report:
13 February 2025Last dividends:
N/ANext dividends:
N/APrice
after hours | Fri, 22 Nov 2024 21:45:05 GMTDividend
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INCY Latest News
Levi & Korsinsky has informed investors that it is starting an investigation into Incyte Corporation (NASDAQ:INCY) for potential breaches of federal securities laws. This comes after Incyte announced on November 18, 2024, that it will stop enrolling participants in the Phase 2 trial of its drug INCB000262 for chronic spontaneous urticaria (CSU) because of some concerning preclinical toxicology results.
INCY has halted enrollment in the phase II study of MRGPRX2 for CSU after finding some concerning preclinical toxicology results in their in vivo tests.
Incyte (INCY) was the biggest loser in the S&P 500 on Tuesday afternoon after the pharmaceutical company announced it would halt the development of one drug and pause the enrollment for another study.
The biopharmaceutical company shared unsatisfactory news regarding two of its research studies.
On Monday, Incyte Corporation (INCY) announced that it will stop enrolling new participants in the current Phase 2 study of MRGPRX2 (INCB000262) for chronic spontaneous urticaria (CSU).
Incyte announced impressive revenue growth of 24% in the third quarter, largely due to Jakafi and Opzelura. The approval of new products, such as Niktimvo, is expected to help diversify Incyte's income and lessen its dependence on Jakafi. The earnings per share (EPS) shortfall is mainly due to high research and development costs, which are important to reassure investors about possible future revenue declines from Jakafi.
Incyte Corporation will hold a conference call on October 29, 2024, at 8:00 AM ET to discuss their Q3 2024 financial results. Key company participants include the CEO, CFO, and other executives, along with various analysts from major financial institutions. The call will be recorded for future reference.
Incyte has shared mixed results for the third quarter, with earnings falling short of expectations, but revenues exceeding them thanks to higher sales of Jakafi and Opzelura.
The main figures for Incyte (INCY) provide an overview of the company's performance for the quarter that ended in September 2024. However, it could be useful to compare these important metrics with Wall Street's predictions and the results from the same period last year.
Incyte exceeded Wall Street's expectations for its third-quarter revenue and increased its annual sales prediction for its best-selling drug on Tuesday, thanks to strong patient demand.
What type of business is Incyte?
Incyte Corporation is a biopharmaceutical company. The company offers the drug JAKAFI for the treatment of myelofibrosis and polycythemia, as well as Iclusig, a kinase inhibitor for the treatment of chronic myeloid leukemia and Philadelphia chromosome-positive acute lymphoblastic leukemia. Its clinical products include ruxolitinib, a Phase III drug for steroid-refractory chronic graft-versus-host disease (GVHD); and Phase II drug for the treatment of essential thrombocythemia and refractory myelofibrosis. In addition, the company is developing itacitinib, which is in Phase III clinical trials for the treatment of naïve chronic GVHD; and pemigatinib, which is in Phase II clinical trials for the treatment of bladder cancer, cholangiocarcinoma, 8p11 myeloproliferative syndrome, and tumor-agnostic syndrome. The company is also involved in the development of Parsaclisib, which is in Phase II clinical trials for follicular lymphoma, marginal zone lymphoma, and mantle cell lymphoma. The company is developing INCMGA0012, which is in Phase II clinical trials for high-grade endometrial MSI cancer, Merkel
What sector is Incyte in?
Incyte is in the Healthcare sector
What industry is Incyte in?
Incyte is in the Biotechnology industry
What country is Incyte from?
Incyte is headquartered in United States
When did Incyte go public?
Incyte initial public offering (IPO) was on 04 November 1993
What is Incyte website?
https://www.incyte.com
Is Incyte in the S&P 500?
Yes, Incyte is included in the S&P 500 index
Is Incyte in the NASDAQ 100?
No, Incyte is not included in the NASDAQ 100 index
Is Incyte in the Dow Jones?
No, Incyte is not included in the Dow Jones index
When was Incyte the previous earnings report?
No data
When does Incyte earnings report?
The next expected earnings date for Incyte is 13 February 2025