INCY

EX-99.1

2 incy-q32026xexx991.htm

EX-99.1

Document

Exhibit 99.1

FOR IMMEDIATE RELEASE

Incyte Reports Third Quarter 2026 Financial Results and Provides Business Updates

Total revenue of $1.56 billion and total net sales of $1.32 billion in the third quarter of 2026, each an increase of 14% compared to the third quarter of 2025

Jakafi®/Jakafi XR™ (ruxolitinib) net sales of $827 million, an increase of 4% compared to the same period in 2025

Continued growth in core business (ex-Jakafi), with Opzelura® (ruxolitinib) cream net sales of $255 million and Hematology and Oncology net sales of $235 million, an increase of 36% and 38%, respectively, versus the prior year period

Raising 2026 full year financial guidance for Opzelura net sales, Hematology and Oncology net sales and total net sales

Phase 1 data for INCB161734 and INCA033890 support an expanding GI Oncology development strategy, including multiple ongoing and planned registrational studies in 2027

Advancing multiple registrational programs in Hematology, with Phase 3 studies underway or planned for INCA033989 in essential thrombocythemia (ET) and myelofibrosis (MF), and latarcibart in von Willebrand disease (VWD)

Phase 3 data expected by year-end for povorcitinib in prurigo nodularis (PN) and ruxolitinib cream in hidradenitis suppurativa (HS)

Conference Call and Webcast Scheduled Today at 8:00 a.m. ET

WILMINGTON, Del. – October 29, 2026 – Incyte (Nasdaq:INCY) today reported financial results for the third quarter of 2026 and provided a business update.

“Our third quarter was marked by strong commercial performance, meaningful pipeline progress and important regulatory achievements,” said Bill Meury, Chief Executive Officer, Incyte. “Net sales growth was strong in both the U.S. and internationally, creating a durable core business beyond Jakafi. At the same time, we are advancing a pipeline led by a CALR-targeted monoclonal antibody for myeloproliferative neoplasms, a novel Protein S modulator for von Willebrand disease, a KRAS G12D inhibitor for pancreatic and colorectal cancers and a TGFβR2×PD-1 bispecific antibody for colorectal cancer. Each represents a significant opportunity for Incyte, and together they give us multiple paths to growth beyond 2029. With important clinical, regulatory and commercial catalysts ahead, we are well positioned to create long-term value for patients and shareholders.”

Third Quarter 2026 Results

•Total revenue: Total revenue was $1.56 billion, an increase of 14% compared to the third quarter of 2025, primarily driven by an increase in total net sales across marketed products.

•Total net sales: Total net sales were $1.32 billion, an increase of 14% compared to the third quarter of 2025, driven by increased demand across marketed products.

◦Jakafi®/Jakafi XR™ (ruxolitinib) net sales of $827 million, an increase of 4% compared to the same period in 2025.

◦Opzelura® (ruxolitinib) cream net sales of $255 million, an increase of 36% versus the prior year period.

◦Hematology and Oncology portfolio net sales of $235 million, an increase of 38% compared to the third quarter of 2025.

•Cost of sales: GAAP and non-GAAP cost of sales were $108.7 million and $102.2 million, respectively, representing 8% of total net sales.

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•Research and development (R&D) expenses: GAAP and non-GAAP R&D expenses were $1.79 billion and $1.75 billion, an increase of 254% and 274%, respectively, compared to the prior year period, primarily driven by a one-time $1.23 billion IPR&D expense related to the acquisition of Vega Therapeutics. Excluding the Vega IPR&D expense, GAAP research and development expenses increased 11% as compared to the same period in 2025 primarily driven by late-stage development efforts.

•Selling, general and administrative (SG&A) expenses: GAAP and non-GAAP SG&A expenses were $364.3 million and $339.1 million, an increase of 11% and 10%, respectively, compared to the prior year period.

•Cash, cash equivalents and marketable securities position: As of September 30, 2026 and December 31, 2025, cash, cash equivalents and marketable securities totaled $3.9 billion and $3.6 billion, respectively.

2026 Financial Guidance

Incyte is raising its full year 2026 net sales guidance for Opzelura to $1,100 - $1,120 million, Hematology and Oncology to $890 - $910 million and total net sales to $5,210 - $5,300 million to reflect continued strong performance across the portfolio. Incyte is reaffirming its full year 2026 guidance for all other categories.

Incyte’s guidance for the fiscal year 2026 is summarized below.

CurrentPrevious

Total net sales$5,210 - $5,300 million$5,130 - $5,260 million

Jakafi net sales(1) Unchanged$3,220 - $3,270 million

Opzelura net sales(2) $1,100 - $1,120 million$1,050 - $1,100 million

Hematology and Oncology net sales(3) $890 - $910 million$860 - $890 million

Total GAAP R&D and SG&A operating expenses(4) Unchanged$4,915 - $4,995 million

Total Non-GAAP R&D and SG&A operating expenses(4,5)

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