Incyte (NASDAQ:INCY) has announced Q3 financial results and provided a status update on its development portfolio.
The company reported a 16% YoY growth in total royalty and product revenues of around $621 million. Jakafi® revenue was $488 million in the quarter, and the company is now holding for the guidance of $1.91 billion and $1.94 billion in Jakafi revenue for the whole year.
Solid Jakavi® performance boosts Incyte’s Q3 results
The CEO of the company, Herve Hoppenot, said that they are delighted to deliver a strong quarter thanks to Jakafi® strength across all indications. Incyte continues to show good momentum at the back of the launch of Pemazyre® Pemugatinib) and Monjuvi® (tafasitamab-cxix) in the US. Hoppenot also confirmed that in Q3, the company increased its royalty contributions from its partnered medicines worldwide. The company had also launched a new Incyte franchise, Incyte Dermatology, in the US, where it is on track for an NDA submission for ruxolitinib cream at the end of 2020. The application through Incyte’s priority voucher could result in an FDA decision by mid-2021.
Incyte has initiated two pivotal studies evaluating ruxolitinib and parsaclisib combination as first-line therapy for treating myelofibrosis (MF) patients. Also, the company is evaluating the combination in patients with MF unresponsive to ruxolitinib monotherapy. The second phase monotherapy INCB57643 (BET) trial in refractory MF patients are currently enrolment in patients. Also, the company has opened phase 2 INCB00928 (ALK2) monotherapy in MF patients. Once the trials complete monotherapy cohorts, they will progress to ruxolitinib combination studies.
Monjuvi® under MAA review for r/r DCBCL
Recently the combination of Monjuvi® and lenalidomide was in the latest NCCN Clinical Practice Guideline in Oncology to treat B-cell Lymphoma with a designation of Category 2A. Incyte is considering it a treatment alternative for patients with refractory/relapsed diffuse large B-cell lymphoma and those who qualify for autologous stem cell transplant.
Currently, tafasitamab is under European MAA as a treatment alternative for r/r DLBCL patients. The company has exclusive development and tafasitamab marketing rights outside the US.
