This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Incyte Reports 2012 Second-Quarter Financial Results; Updates Shareholders On Launch Of Jakafi And Lead Clinical Programs

Ninth graph, third sentence should read: Also included in total revenues for the quarter and six months ended June 30, 2012, was a $40 million European Union regulatory milestone payment received from Novartis for ruxolitinib (sted Also included in total revenues for the quarter and six months ended June 30, 2012, was a $40 million milestone payment received from Lilly for baricitinib (LY3009104)).

Tenth graph, third sentence should read: Included in net income for the quarter and net loss for the six months ended June 30, 2012, was a $40 million European Union regulatory milestone payment received from Novartis for ruxolitinib (sted Included in net income for the quarter and net loss for the six months ended June 30, 2012, was a $40 million milestone payment received from Lilly for baricitinib (LY3009104)).

The corrected release reads:

INCYTE REPORTS 2012 SECOND-QUARTER FINANCIAL RESULTS; UPDATES SHAREHOLDERS ON LAUNCH OF JAKAFI AND LEAD CLINICAL PROGRAMS

  • $35.1 million of Jakafi ® (ruxolitinib) shipped to specialty pharmacies during the second quarter; $29.7 million in second-quarter net product revenue based on the sell-through revenue recognition method *
  • Use of Jakafi to treat patients with intermediate or high-risk myelofibrosis further supported by multiple clinical presentations
  • Positive Phase IIb results of oral JAK1 and JAK2 inhibitor, baricitinib, in patients with active rheumatoid arthritis presented at EULAR

Conference Call Scheduled Today at 8:30 a.m. ET

Incyte Corporation (Nasdaq: INCY) today reported second-quarter 2012 financial results, including revenue from its first commercial product, Jakafi ® (ruxolitinib), which was approved by the US Food & Drug Administration (FDA) for the treatment of patients with intermediate or high-risk myelofibrosis (MF) in November 2011. The Company also provided updated information about several of its lead clinical programs, including data about Jakafi and baricitinib (LY3009104), presented at key medical meetings.

“The launch of Jakafi is going well. Interest in using this new therapy among hematologists and oncologists continues to grow as evidenced by shipments of Jakafi during the second quarter. We continue to believe that growth will be steady as physicians gradually expand use to those appropriate patients who are less severely ill. At this point in the launch, we’re now able to provide revenue guidance for 2012 net product sales in the range of $120 to $135 million,” stated Paul A. Friedman, M.D., Incyte’s President and Chief Executive Officer.

1 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,058.92 -20.65 -0.12%
S&P 500 1,999.94 +3.20 0.16%
NASDAQ 4,572.06 +14.3650 0.32%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs