Incyte Corp (NASDAQ:INCY) stock fell 1.24% (As on February 11, 11:34:29 AM UTC-4, Source: Google Finance) after the company posted mixed result for the fourth quarter of FY 24. akafi (ruxolitinib) net revenues of $773 million (+11% Y/Y) in the fourth quarter 2024 and $2.8 billion (+8% Y/Y) for the full year 2024; Jakafi net revenues guidance range of $2,925 – $2,975 million for the full year 2025. Opzelura (ruxolitinib) cream net revenues of $162 million (+48% Y/Y) in the fourth quarter 2024 and $508 million (+50% Y/Y) for the full year 2024; Opzelura net revenues guidance range of $630 – $670 million for the full year 2025. For the quarter and year ended December 31, 2024, Minjuvi/Monjuvi net product revenue increased 265% and 222%, respectively, as the company recognize all revenue from sales of Monjuvi in the United States following the acquisition of exclusive global rights for tafasitamab in February 2024. For the quarter and full year ended December 31, 2024, total royalty revenues increased by 6% and 11%, respectively, primarily driven by growth in Jakavi royalty revenues.

Further, ncyte expects to deliver at least 18 key milestones in 2025. These include four new product launches: Niktimvo in 3L+ chronic graft-versus-host disease (GVHD), ruxolitinib cream in pediatric atopic dermatitis (AD), tafasitamab in relapsed/refractory follicular lymphoma (FL), and retifanlimab in squamous cell anal carcinoma (SCAC). At least three Phase 3 study initiations: BET inhibitor in 2L myelofibrosis (MF), ruxolitinib cream in mild to moderate hidradenitis suppurativa (HS) and CDK2 inhibitor in ovarian cancer. Four pivotal readouts, including Povorcitinib in moderate to severe HS, ruxolitinib cream in prurigo nodularis (PN), tafasitamab in 1L diffuse large B-cell lymphoma (DLBCL), and ruxolitinib XR for MF, polycythemia vera (PV), and GVHD. Seven proof of concept readouts, including Povorcitinib in chronic spontaneous urticaria (CSU) and asthma, mutCALR in MF and essential thrombocythemia (ET), JAK2V617F mutant-specific inhibitor in MF, and both KRASG12D and TGFβR2xPD-1 in solid tumors.

Moreover, A bioequivalence study of ruxolitinib extended-release (XR) has been completed. These data are anticipated to be submitted to the U.S. Food and Drug Administration (FDA) by year-end 2025 once the stability studies are complete. In January 2025, Incyte and Syndax Pharmaceuticals announced that the FDA approved Niktimvo (axatilimab-csfr) in 9 mg and 22 mg vial sizes. Niktimvo is now commercially available in the U.S. and the commercial launch is underway.

INCY in the fourth quarter of FY 24 has reported the adjusted earnings per share of $1.43, missing the analysts’ estimates for the adjusted earnings per share of $1.53, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 16 percent to $1.18 billion in the fourth quarter of FY 24, beating the analysts’ estimates for revenue of $1.15 billion.