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