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Incyte (INCY) Reports Q1 Loss of $2.86, Reaffirms Guidance

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May 5, 2020 7:23 AM EDT

Incyte (NASDAQ: INCY) reported Q1 EPS of ($2.86), versus $0.62 reported last year. Revenue for the quarter came in at $568.5 million versus the consensus estimate of $556.04 million.

2020 Financial Guidance:

The Company has reaffirmed its full year 2020 financial guidance, as detailed below. The R&D expense guidance now includes the expenses related to Incyte’s share of tafasitamab development costs under the MorphoSys collaboration, but excludes $805 million of upfront consideration paid under the MorphoSys collaboration. The financial guidance also excludes the impact of any potential future strategic transactions.

All data in millions

Current

Previous

Jakafi net product revenues

$1,880 - $1,950

Unchanged

Iclusig net product revenues

$100 - $105

Unchanged

GAAP Cost of product revenues

$130 - $135

Unchanged

Non-GAAP Cost of product revenues1

$107 - $112

Unchanged

GAAP Research and development expenses

$1,210 - $1,280

Unchanged

Non-GAAP Research and development expenses2

$1,079 - $1,149

Unchanged

GAAP Selling, general and administrative expenses

$505 - $535

Unchanged

Non-GAAP Selling, general and administrative expenses2

$447 - $477

Unchanged

GAAP Change in fair value of acquisition-related contingent consideration

$25 - $27

Unchanged

Non-GAAP Change in fair value of acquisition-related contingent consideration3

$0

Unchanged

For earnings history and earnings-related data on Incyte (INCY) click here.


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