Incyte (NASDAQ: INCY) reported Q2 EPS of $1.24, $0.36 better than the analyst estimate of $0.88. Revenue for the quarter came in at $688 million versus the consensus estimate of $612.14 million.

2020 Financial Guidance

The Company has reaffirmed its full year 2020 financial guidance, as detailed below. The R&D expense guidance 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.