Incyte (NASDAQ: INCY) reported Q3 EPS of $0.38, $0.02 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $430 million versus the consensus estimate of $450.38 million.

• Total product-related revenues of $430 million for the three months and $1.2 billion for the nine months ended September 30, 2018; Jakafi® (ruxolitinib) revenues of $348 million in 3Q 2018 and $1.0 billion YTD 2018
• sNDA for ruxolitinib for the treatment of patients with steroid-refractory acute graft versus host disease (GVHD) accepted by the FDA for Priority Review
• Compelling data from pemigatinib (FGFR) and capmatinib (MET, with Novartis) programs presented at ESMO; NDAs seeking approval of both compounds expected next year
• Positive proof-of-concept data for ruxolitinib cream in patients with atopic dermatitis presented at EADV and preparations now underway for global Phase 3 program; Phase 2 data in vitiligo expected in 2019

“The total number of patients taking Jakafi continues to increase in both approved indications, and we have raised the lower end of our full year revenue guidance,” stated Hervé Hoppenot, Chief Executive Officer, Incyte. “We see a remarkable set of opportunities in the coming months from our late-stage development portfolio, including both ruxolitinib and itacitinib as potential treatments for certain patients with GVHD. Recent data from pemigatinib and capmatinib, which are both Incyte-invented molecules, as well as from ruxolitinib cream, all serve to highlight the quality of Incyte’s drug discovery capabilities, and the value created by our R&D efforts.”

GUIDANCE:

Incyte sees FY2018 revenue of $1.37-1.4 billion, versus the consensus of $1.72 billion.

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