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Incyte (INCY) Tops Q1 EPS by 4c

May 4, 2021 7:18 AM EDT

Incyte (NASDAQ: INCY) reported Q1 EPS of $0.67, $0.04 better than the analyst estimate of $0.63. Revenue for the quarter came in at $605 million versus the consensus estimate of $656.88 million.

2021 Financial Guidance:

The Company has reaffirmed its full year 2021 financial guidance, as detailed below. Guidance does not include revenue from any potential new product launches. However, GAAP and Non-GAAP selling, general and administrative expense guidance for 2021 includes costs to support the potential launches of ruxolitinib cream as a treatment for atopic dermatitis in the U.S., pemigatinib as a treatment for cholangiocarcinoma in the EU and Japan, and tafasitamab as a treatment for DLBCL in the EU. The 2021 financial guidance does not include the impact of any potential future strategic transactions.

Current

Previous

Jakafi net product revenues

$2,125 - $2,200 million

Unchanged

Other Hematology/Oncology net product revenues

$145 - $160 million

Unchanged

GAAP Cost of product revenues

6 – 7% of net product revenues

Unchanged

Non-GAAP Cost of product revenues1

5 – 6% of net product revenues

Unchanged

GAAP Research and development expenses

$1,350 - $1,390 million

Unchanged

Non-GAAP Research and development expenses2

$1,220 - $1,250 million

Unchanged

GAAP Selling, general and administrative expenses

$735 - $775 million

Unchanged

Non-GAAP Selling, general and administrative expenses3

$665 - $700 million

Unchanged

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



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