Slide 1: 2022 First Quarter Financial and Corporate Update
2022 First Quarter Financial and Corporate Update M AY 3 , 2 0 2 2
Slide 2: Forward-Looking Statements
Forward-Looking Statements Except for the historical information set forth herein, the matters set forth in this presentation contain predictions, estimates and other forward-looking statements, including statements regarding: the opportunities for growth and diversification presented by Incyte’s po
Slide 3: First Quarter Review
FIRST QUARTER REVIEW HERVÉ HOPPENOT – CEO
Slide 4: Strong Q1 Performance with 20% Growth in Product & Royalty Revenues
Strong Q1 Performance with 20% Growth in Product & Royalty Revenues Q1 2022 Q1’22/Q1’21 Revenues Growth (%) Key Highlights of Q1 MPNs & GVHD $544m +17% (Q1’22 +17% y/y) Successful launches of new products and indications Other Heme/Onc Strong launch of Jakafi in chronic GVHD $26m +2% (Q1’22 +24%
Slide 5: Advancing Multiple Growth Opportunities Across the U.S., EU and Japan
Advancing Multiple Growth Opportunities Across the U.S., EU and Japan Next Wave of Growth New Launches in Growth Phase U.S. Europe Japan Ruxolitinib Pediatric atopic dermatitis Dermatology Atopic dermatitis Cream Chronic hand eczema (TRuE-CHE1 / CHE2) Hidradenitis suppurativa Cholangiocarcinom
Slide 6: U.S. Commercial Update
U.S. COMMERCIAL UPDATE BARRY FLANNELLY – GENERAL MANAGER, NORTH AMERICA
Slide 7: Fast-growing Demand for Opzelura in the U.S.
Fast-growing Demand for Opzelura in the U.S. Opzelura TRx1 Q1’22 net sales $13m 5,000 Q4’21 Q1’22 Robust uptake of Opzelura 4,500 Over 68,000 total prescriptions since launch through Q1’22 4,000 > 38,000 new patients treated with Opzelura in Q1 3,500 ~57,000 new patients in the U.S. have been
Slide 8: Leading Indicators Support the Long-Term Growth of Opzelura in AD
Leading Indicators Support the Long-Term Growth of Opzelura in AD Opzelura NBRx Share1 50.0% tacrolimus 45.0% 44% >7,500 physicians have written an Rx for Opzelura 40.0% Gaining 200 to 300 new writers per week 35.0% High decile prescribers have initiated an average of 18 new patients on Opzelu
Slide 9: Advancing Payer Discussions: 75 Million Additional Lives Covered
Advancing Payer Discussions: 75 Million Additional Lives Covered As of End Apr 2022 As of End Jan 2022 Covered Lives / Total Lives % Covered % Covered 19% Commercial Channel 82 million / 149 million 45% 55% 81% 6% 6% Federal Government Channel 15 million / 16 million 94% 94% Medicaid (Managed and FF
Slide 10: Jakafi Patient Demand Growing Across All Indications
Jakafi Patient Demand Growing Across All Indications Patients by Indication Q1’22 net sales $544m (+17% Y/Y) Patient growth YoY (%)1 18,000 Total patients grew across MF, PV and GHVD 16,000 Myelofibrosis Strong launch continuing in chronic GVHD +4% 14,000 New patient starts increased 12% versus
Slide 11: Monjuvi/Minjuvi and Pemazyre Uptake Continues to Grow
Monjuvi/Minjuvi and Pemazyre Uptake Continues to Grow Q1’22 net sales $19m1 Q1’22 net sales $5m Q1’22 net sales $18m Focus on driving Monjuvi uptake in 2L DLBCL Majority of patients initiating therapy in the 2L setting Continued new account penetration and increasing Ongoing launch in Europe
Slide 12: Clinical Development
CLINICAL DEVELOPMENT STEVEN STEIN – CHIEF MEDICAL OFFICER
Slide 13: Ruxolitinib Cream: Substantial Improvements in Repigmentation with Longer Treatment
Ruxolitinib Cream: Substantial Improvements in Repigmentation with Longer Duration of Treatment Updated 52-week results F-VASI after 52 weeks of treatment presented at AAD (TRuE-V1, TRuE-V2): TRuE-V1 TRuE-V2 F-VASI50 (75%, 74%) 100 F-VASI75 Response, % (SE) F-VASI75 (53%, 48%) 90 OR (95% CI), OR
Slide 14: Significant Impact of Vitiligo on Patient's Quality of Life
Significant Impact of Vitiligo on Patient’s Quality of Life (QoL) Moderate to Severe Depressive Symptoms as Population-based VALIANT study to better understand the Assessed by the PHQ-91 in Patients with Vitiligo burden of vitiligo on patients QoL Anxiety and depression are common co-morbidities i
Slide 15: Initiating Study of Ruxolitinib Cream Plus Phototherapy
Initiating Study of Ruxolitinib Cream Plus Phototherapy to Evaluate Benefit of Adding Phototherapy Intervention NB-UVB Add-On Screening (12 weeks) (36 weeks) Nonsegmental vitiligo Group A Rux Cream 1.5% bid + Follow- > 12 years < T-VASI25 NB-UVB 3x/wk Up (30 Phase II Rux F-VASI > 0.5 on the da
Slide 16: INCB54707 Development in Areas of High Unmet Medical Need
INCB54707 Development in Areas of High Unmet Medical Need Vitiligo Hidradenitis Suppurativa Prurigo Nodularis Patients BSA ≥ 8% Abscess and nodule count ≥ 5 ≥ 20 nodules Clinical Phase 2 Phase 2 Phase 2 Trials 1.5 million patients with vitiligo1 0.1% of population2 Epi (US) > 200,0003 (~30% have BSA
Slide 17: Oral PD-L1: Prioritization of INCB99280 and INCB99318
Oral PD-L1: Prioritization of INCB99280 and INCB99318 INCB99280 & INCB99318 Potential benefits of an oral PD-L1 Tumor shrinkage observed Ability to manage immune-related adverse events due to No evidence of peripheral neuropathy to date shorter pharmacokinetic exposures Dose escalation ongoi
Slide 18: INCB123667 (CDK2): Initiating a Phase 1 Study in Advanced Solid Tumors
INCB123667 (CDK2): Initiating a Phase 1 Study in Advanced Solid Tumors INCB123667 is a novel, potent and selective oral small molecule inhibitor of CDK2 CDK2 in complex with Cyclin E1 regulates the G1/S transition and promotes DNA replication during the cell cycle Cyclin E amplified cancers ar
Slide 19: 2022 Key Milestones and Newsflow
1H 2022 2H 2022 QD ruxolitinib MF, PV, GVHD NDA submission MPNs/GVHD BET + ruxolitinib myelofibrosis Initial data ALK2 + ruxolitinib myelofibrosis Initial data itacitinib GVHD Results from Part 1 (dose-finding) Oral PD-L1 solid tumors Lead program selection(s) Hematology / Oncology Other A2A/A2B s
Slide 20: Financial Results
FINANCIAL RESULTS CHRISTIANA STAMOULIS – CFO
Slide 21: Non-GAAP Adjustments
Non-GAAP Adjustments Management has chosen to present financial highlights for the quarter ended March 31, 2022 and 2021 on both a GAAP and Non -GAAP basis in the belief that this Non -GAAP information is useful for investors. Management uses such information internally and externally for establ
Slide 22: Financial Highlights: Product & Royalty Revenue
Financial Highlights: Product & Royalty Revenue $ millions Q1 2022 Q1 2021 YoY Change GAAP GAAP Net product revenues 606 505 20% Jakafi 544 466 17% 1 Other Hematology/Oncology 49 39 24% Opzelura 13 - NM Royalties 122 100 23% Jakavi 71 66 8% Olumiant 48 32 49% Tabrecta 3 2 70% Total product and royal
Slide 23: 2022 Opzelura Forecasted Gross-to-Net Evolution
2022 OPZELURA FORECASTED GROSS-TO-NET EVOLUTION Fully Loaded GTN Steady State Discount Rate (40- 50%) end of 2022 Forecast Actual Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Quarter End 23 Intended for directional purposes. Not drawn to scale
Slide 24: Financial Highlights: Operating Expenses
Financial Highlights: Operating Expenses $ millions Q1 2022 Q1 2021 YoY Change GAAP GAAP COGS 43 29 46% As a percentage of net product revenues 7% 6% R&D 353 307 15% R&D – ongoing 333 295 13% R&D – upfront and milestones 20 12 67% SG&A 210 154 36% Collaboration loss sharing 1 5 10 -55% Totals may no
Slide 25: Financial Guidance: Full Year 2022
Financial Guidance: Full Year 2022 Current Previous Net product revenues Jakafi net product revenues $2.33 - $2.40 billion $2.3 - $2.4 billion Other Hematology/Oncology net product revenues(1) $210 - $240 million Unchanged Costs and expenses GAAP Cost of product revenues 6 – 7% of net product revenu
Slide 26: 2022 Key Milestones and Newsflow
1H 2022 2H 2022 QD ruxolitinib MF, PV, GVHD NDA submission MPNs/GVHD BET + ruxolitinib myelofibrosis Initial data ALK2 + ruxolitinib myelofibrosis Initial data itacitinib GVHD Results from Part 1 (dose-finding) Oral PD-L1 solid tumors Lead program selection(s) Hematology / Oncology Other A2A/A2B s
Slide 27: Financial Back-Up Slides
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Slide 28: Financial Highlights: Q1
Financial Highlights: Q1 $ millions Q1 2022 Q1 2021 Q1 2022 Q1 2021 GAAP GAAP Non-GAAP Non-GAAP Net product revenues 606 505 606 505 Jakafi 544 466 544 466 Iclusig 26 26 26 26 Pemazyre 18 13 18 13 Minjuvi 5 - 5 - Opzelura 13 - 13 - Royalties 122 100 122 100 Jakavi 71 66 71 66 Olumiant 48 32 48 32 Ta
Slide 29: 2022 Financial Guidance Non-GAAP Reconciliation
2022 Financial Guidance Non-GAAP Reconciliation GAAP Adjustments Non-GAAP Guidance Guidance Net product revenues Jakafi $2.33 – $2.4 billion - $2.33 – $2.4 billion Other Hematology/Oncology1 $210 – $240 million - $210 – $240 million Costs and expenses COGS 6 – 7% net product revenues Amortization of