Considering Incyte’s Revenue Trend in Q2 2018

Incyte’s revenue trend

Incyte’s (INCY) consolidated revenue increased to $521.51 million in the second quarter compared to $326.44 million in the second quarter of 2017.

In the second quarter, the company reported net income of $52.39 million compared to net income of -$12.48 million in the second quarter of 2017.

Considering Incyte’s Revenue Trend in Q2 2018

The chart above compares Incyte’s quarterly revenues since the first quarter of 2017.

Second-quarter performance

Incyte surpassed Wall Street analysts’ estimates for revenue but missed estimates for its EPS, reporting EPS of $0.27 on revenue of $521.5 million in the second quarter compared to the estimates of EPS of $0.34 on revenue of $473.8 million in the quarter.

Incyte reported GAAP (generally accepted accounting principles) revenue of $521.5 million in the second quarter, a 59.7% rise year-over-year compared to $326.4 million in the second quarter of 2017. The revenue included milestone income of $100 million, excluding which its non-GAAP revenue was $421.5 million in the quarter.

Product portfolio

Incyte’s product portfolio includes the drugs Iclusig, Jakafi/Jakavi, and Olumiant.

Jakafi (ruxolitinib) is a drug for the treatment of rare types of blood cancer, such as polycythemia vera and myelofibrosis. Novartis (NVS) holds the commercialization rights for Jakafi outside US markets.

Iclusig (ponatinib) is a drug for the treatment of patients with chronic myeloid leukemia as well as Philadelphia-chromosome positive acute lymphoblastic leukemia in patients who are not responsive to other tyrosine kinase inhibitors.

Olumiant (baricitinib) is a once-daily JAK inhibitor for the treatment of active rheumatoid arthritis. Eli Lilly and Company (LLY) holds the worldwide development and commercialization rights for Olumiant.

The SPDR S&P Biotech ETF (XBI) holds 1.3% in Incyte, 1.3% in SAGE Therapeutics (SAGE), 1.5% in Biogen (BIIB), and 1.6% in Celgene (CELG).