This Day On The Street
Continue to site
ADVERTISEMENT
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

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,109.90 -53.09 -0.29%
S&P 500 2,115.55 -7.93 -0.37%
NASDAQ 5,090.98 -15.6130 -0.31%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs