Press release
Incyte Reports Third Quarter 2025 Financial Results and Provides Business Updates
Total revenues of $1.37 billion in the third quarter of 2025, reflecting 20% growth compared to the third quarter of 2024 Jakafi® (ruxolitinib) net product
About this update from Incyte Corporation
[{"type":"text","content":"\nTotal revenues of $1.37 billion in the third quarter of 2025, reflecting 20% growth compared to the third quarter of 2024\n\n\nJakafi® (ruxolitinib) net product revenue of $791 million, an increase of 7% compared to the same period in 2024\n\n\nOpzelura® (ruxolitinib) cream net product revenue of $188 million, an increase of 35% compared to the prior year period\n\n\nHematology-Oncology portfolio net product revenues of $171 million, including Niktimvo™ (axatilimab-csfr) net revenue of $46 million\n\n\nRaises 2025 full year net product revenue guidance to $4.23 - $4.32 billion\n\n\nConference Call and Webcast Scheduled Today at 8:00 a.m. ET\n\n\n WILMINGTON, Del.--(BUSINESS WIRE)--\nIncyte (Nasdaq:INCY) today reported financial results for the third quarter of 2025 and provided a business update.\n\n\n“Our third-quarter results demonstrate strong growth across our product portfolio, with net product revenues increasing 19% year-over-year, which highlights the momentum in our business and effective commercial execution,” said Bill Meury, President and Chief Executive Officer, Incyte. “We are taking a deliberate approach to pipeline prioritization. We are actively reviewing our R&D efforts and focusing on high-value programs that are scientifically differentiated, address unmet medical needs, and have the potential to significantly drive Incyte’s next phase of growth.\"\n\n\nThird Quarter 2025 Results\n\n\n\nTotal revenues: Total revenues were $1.37 billion, an increase of 20% compared to the third quarter of 2024, primarily driven by an increase in total net product revenues. Total net product revenue for the third quarter of 2025 was $1.15 billion, an increase of 19%. The increase was primarily related to patient demand for Jakafi® (ruxolitinib) across all indications and strong uptake of the initial launch of Niktimvo™ (axatilimab-csfr).\n\n\n\nCost of product revenues: GAAP and non-GAAP cost of product revenues were $99.0 million and $92.7 million, an increase of 15% and 16%, respectively, compared to the prior year period.\n\n\n\nResearch and development (R&D) expenses: GAAP and non-GAAP R&D expenses were $506.6 million and $467.0 million, a decrease of 12% and 11%, respectively, compared to the prior year period.\n\n\n\nSelling, general and administrative (SG&A) expenses: GAAP and non-GAAP SG&A expenses were $329.1 million...