INCYTE (INCY) Q2 2025 – Revenues Soar 16% YoY

By Philip Seaworth • Tuesday, July 29 15:40 • Permanent Link

Incyte (NASDAQ:INCY) reported its financial results for the second quarter of 2025, showing significant growth across various key financial metrics. The company's total revenues for the second quarter were $1,216 million, marking a 16% increase year-over-year (y/y). Notably, total product revenues for the same period were $1,059 million, reflecting a 17% y/y increase.

The company's flagship product, Jakafi® (ruxolitinib), contributed significantly to its revenue growth, with net product revenues reaching $764 million in the second quarter of 2025, an 8% increase y/y. Opzelura® (ruxolitinib) cream also demonstrated strong performance, with net product revenues of $164 million, marking a remarkable 35% increase y/y.

Furthermore, the company's Niktimvo™ (axatilimab-csfr) also exhibited robust commercial execution, generating net product revenues of $36 million in the second quarter, contributing to Incyte raising its full-year 2025 other oncology guidance to a new range of $500 * $520 million, up from the previous range of $415 * $455 million.

In addition to its revenue growth, Incyte achieved significant milestones in its clinical development portfolio. Zynyz® (retifanlimab-dlwr) and Monjuvi® (tafasitamab-cxix) received approval from the U.S. FDA for the first-line treatment of adult patients with advanced squamous cell carcinoma of the anal canal (SCAC) and for the treatment of adult patients with relapsed or refractory follicular lymphoma (FL) in combination with rituximab and lenalidomide, respectively.

Incyte also provided updates on its pipeline, including advancements in myeloproliferative neoplasms (MPNs) and graft-versus-host disease (GVHD) programs, as well as other hematology/oncology and inflammation and autoimmunity programs.

The company's financial highlights for the second quarter of 2025 showed positive performance, with total GAAP revenues reaching $1,215,529, a 16% increase y/y. Additionally, total non-GAAP operating income was reported at $382,579, marking a significant improvement from the previous year.

Following these announcements, the company's shares moved 10.93%, and are now trading at a price of $77.83. For more information, read the company's full 8-K submission here.

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