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Incyte Corporation (INCY) Presents at Wells Fargo 21st Annual Healthcare Conference Transcript

Incyte Corporation is transitioning from a Jakafi-centric model to a diversified, multi-franchise biotech with several late-stage pipeline assets. 2Q26 results showed 17% underlying net sales growth, broad-based portfolio expansion, and strong operating leverage despite one-time Opzelura CMS benefits. INCY's pipeline maturity and upcoming 2H26 clinical readouts across dermatology, hematology, and oncology are pivotal for validating its multi-engine growth thesis.

 | Source: Knight Therapeutics

MONTREAL, Aug. 27, 2026 (GLOBE NEWSWIRE) -- Knight Therapeutics Inc. ("Knight") (TSX: GUD), a pan-American (ex-US) pharmaceutical company, announced today that it has submitted a supplemental application to ANVISA, the Brazilian health regulatory agency, seeking approval for an additional indication for MINJUVI® (tafasitamab) in combination with lenalidomide added to R-CHOP (rituximab, cyclophosphamide, doxorubicin, vincristine and prednisone; Tafa-Len-R-CHOP) as a first-line treatment for adults with previously untreated diffuse large B-cell lymphoma (DLBCL) or high-grade B-cell lymphoma (HGBL). The supplemental application for the additional indication was selected for review under Project Orbis.

“This supplemental submission to ANVISA marks an important step in our efforts to expand MINJUVI®’s potential in earlier lines of therapy in Brazil,” said Samira Sakhia, President and Chief Executive Officer of Knight. “Patients with previously untreated DLBCL and HGBL continue to face significant unmet medical needs. We are encouraged by the clinical data supporting the addition of tafasitamab and look forward to working with regulators under Project Orbis to bring this potential new first-line treatment option to patients as quickly as possible.”

In September 2021, Knight entered into an exclusive supply and distribution agreement with Incyte (NASDAQ:INCY), for the exclusive rights to distribute tafasitamab (commercialized as MONJUVI® in the United States and MINJUVI® ex-U.S.). Knight has launched MINJUVI® in Brazil, Mexico and Argentina for use in combination with lenalidomide, followed by MINJUVI® monotherapy, for the treatment of adult patients with relapsed or refractory DLBCL, who are not eligible for autologous stem cell transplantation (ASCT). In March 2026, Knight announced the approval and launch of MINJUVI® in combination with rituximab and lenalidomide for the treatment of adult patients with relapsed or refractory follicular lymphoma (FL) in Brazil.1 Also in March 2026, Knight submitted MINJUVI® for the same indication in Argentina and Mexico.

This supplemental submission to ANVISA builds on those approvals, seeking a first-line indication for MINJUVI® based on results from the Phase 3 frontMIND trial.

About MINJUVI®

MINJUVI® (tafasitamab) is a humanized Fc-modified cytolytic CD19-targeting monoclonal antibody. Tafasitamab incorporates an XmAb® engineered Fc domain, which mediates B-cell lysis through apoptosis and immune effector mechanism including Antibody-Dependent Cell-Mediated Cytotoxicity (ADCC) and Antibody-Dependent Cellular Phagocytosis (ADCP). Incyte licenses exclusive worldwide rights to develop and commercialize tafasitamab from Xencor, Inc.

In the U.S., MONJUVI® is approved for use in combination with lenalidomide and rituximab for the treatment of adult patients with relapsed or refractory follicular lymphoma (FL).2

Additionally, MONJUVI® received approval in the U.S. in combination with lenalidomide for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) not otherwise specified, including DLBCL arising from low grade lymphoma, and who are not eligible for autologous stem cell transplant (ASCT).2 This indication is approved under accelerated approval based on overall response rate. Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial(s).

In Europe, MINJUVI® received conditional marketing authorization from the European Medicines Agency in combination with lenalidomide, followed by MINJUVI®monotherapy, for the treatment of adult patients with relapsed or refractory DLBCL who are not eligible for ASCT. Additionally, MINJUVI® is approved for use in Europe in combination with lenalidomide and rituximab for the treatment of adult patients with relapsed or refractory FL (Grade 1-3a) after at least one line of systemic therapy.3

In Japan, MINJUVI® is approved for use in combination with lenalidomide for the treatment of adults with relapsed or refractory diffuse large B-cell lymphoma (DLBCL).4 MINJUVI® is also approved for use in Japan in combination with rituximab and lenalidomide for the treatment of adult patients with relapsed or refractory FL (2L+ FL).5

XmAb is a registered trademark of Xencor, Inc.

MONJUVI® and MINJUVI® are registered trademarks of Incyte. All other trademarks are the property of their respective owners.

About Diffuse Large B-Cell Lymphoma (DLBCL)

Diffuse Large B-Cell Lymphoma (DLBCL) is the most common type of non-Hodgkin lymphoma (NHL) in adults worldwide, accounting for a third of all NHLs and ranging between 20%−50% by country.6 DLBCL commonly presents with enlarged lymph nodes or rapidly growing mass along with B symptoms, which include fever, night sweats, and weight loss. The B symptoms can be seen in 30% of patients. Bone marrow involvement is more common in indolent disease and can be seen in up to 50% of the cases.7 Each year, approximately 25,000 people in the U.S. and up to projected 28,000 people in Western Europe are diagnosed with DLBCL.8,9 In Brazil, data from The Department of Information Technology of the Brazilian Public Unified Healthcare System (DataSUS) reported DLBCL as the most frequently diagnosed NHL with 39,012 cases reported between 2008 – 2017. With about 40% of DLBCL patients not responding to initial therapy or relapsing thereafter,10,11 there is a high medical need for new, effective therapies, particularly for high-risk patients.

About High-grade B-Cell Lymphoma (HGBL)

High-grade B-Cell Lymphoma (HGBL) is a rare and aggressive category of B-cell non-Hodgkin lymphoma (NHL) defined by the World Health Organization (WHO).12 It comprises two principal subtypes based on specific genetic characteristics: DLBCL/HGBL with MYC and BCL2 rearrangements, which encompasses most lymphomas previously known as double- or triple-hit lymphoma, and HGBL, not otherwise specified (NOS), a heterogeneous subtype defined by high-grade morphology in the absence of these genetic rearrangements.12,14 HGBL shares clinical features with DLBCL, including rapidly enlarging lymph nodes and B symptoms such as fever, night sweats, and weight loss, and accurate diagnosis requires expert pathologic review incorporating cytomorphology, immunohistochemistry, and fluorescence in situ hybridization (FISH).12,15 The aggressive nature of HGBL and the failure of intensified therapy to improve overall survival underscore the significant unmet need for more effective treatment options.12,13

About frontMIND trial

The frontMIND trial (NCT04824092) is a randomized, double-blind, placebo-controlled, global Phase 3 study in patients with previously untreated high-risk diffuse large B-cell lymphoma (DLBCL) and high-grade B-cell lymphoma (HGBL).16

The study enrolled 899 adults (≥18 to ≤80 years) and is evaluating the efficacy and safety of tafasitamab and lenalidomide added to R-CHOP (rituximab, cyclophosphamide, doxorubicin, vincristine and prednisone) compared with R-CHOP.16

The primary endpoint of the study is investigator-assessed progression-free survival (PFS) using the Lugano 2014 criteria. Key secondary endpoints include event-free survival (EFS) by investigator assessment and overall survival (OS).16

For more information about the frontMIND trial, please visit https://www.clinicaltrials.gov/study/NCT04824092.

About Knight Therapeutics Inc.

Knight Therapeutics Inc., headquartered in Montreal, Canada, is a pharmaceutical company focused on acquiring, in-licensing and commercializing pharmaceutical products for Canada and Latin America. Knight’s Latin American subsidiaries operate under United Medical, Biotoscana Farma and Laboratorio LKM. Knight Therapeutics Inc.'s shares trade on the TSX under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company's web site at https://knighttx.com/ or www.sedarplus.ca.

Forward-Looking Statements for Knight

This document contains forward-looking statements for Knight Therapeutics Inc. and its subsidiaries. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Knight Therapeutics Inc. considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared but cautions the reader that these assumptions regarding future events, many of which are beyond the control of Knight Therapeutics Inc. and its subsidiaries, may ultimately prove to be incorrect. Factors and risks which could cause actual results to differ materially from current expectations are discussed in Knight Therapeutics Inc.'s Annual Report and in Knight Therapeutics Inc.'s Annual Information Form for the year ended December 31, 2025, as filed on www.sedarplus.ca. Knight Therapeutics Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information or future events, except as required by law.

References

MINJUVI (tafasitamab) Powder for solution for infusion 200 mg ANVISA; prescribing information January, 2026. Accessed February 19th 2026.MONJUVI (tafasitamab-cxix) [package insert]. Wilmington, DE: Incyte Corporation; June, 2025. Accessed June 8, 2026. https://www.accessdata.fda.gov/drugsatfda_docs/label/2025/761163s013lbl.pdfMinjuvi (tafasitamab) [summary of product characteristics]. Amsterdam, the Netherlands: Incyte Biosciences Distribution B.V.; January, 2026. Accessed June 8, 2026. https://www.ema.europa.eu/en/documents/product-information/minjuvi-epar-product-information_en.pdfIncyte. Minjuvi® (tafasitamab) Product Information (Japan) and Pharmaceuticals and Medical Devices Agency (PMDA) electronic package insert. Accessed June 2026. https://www.info.pmda.go.jp/psearch/html/menu_tenpu_base.html.Biosciences Japan G.K. Incyte Japan announces approval of Minjuvi® (tafasitamab) in combination with lenalidomide for the treatment of adults with relapsed or refractory diffuse large B-cell lymphoma (DLBCL). Incyte. Published June 19, 2026. Accessed July 30, 2026. https://investor.incyte.com/news-releases/news-release-details/incyte-japan-announces-approval-minjuvir-tafasitamab-0Wang SS. Epidemiology and etiology of diffuse large B-cell lymphoma. Semin Hematol. 2023;60(5):255-266. doi:10.1053/j.seminhematol.2023.11.004Padala SA, Kallam A. Diffuse large B-cell lymphoma. In: StatPearls [Internet]. Treasure Island (FL): StatPearls Publishing; updated April 24, 2023. Accessed June 8, 2026. https://www.ncbi.nlm.nih.gov/books/NBK557796/Chihara D, Johnston K, Bolatova T, et al. An Epidemiological Model to Estimate the Prevalence of Diffuse Large B-Cell Lymphoma in the United States. Clin Lymphoma Myeloma Leuk. 2022;22(12):e1092-e1099. doi:10.1016/j.clml.2022.08.008Berhan A, Almaw A, Damtie S, Solomon Y. Diffuse large B cell lymphoma (DLBCL): epidemiology, pathophysiology, risk stratification, advancement in diagnostic approaches and prospects: narrative review. Discov Oncol. 2025;16(1):184. Published 2025 Feb 15. doi:10.1007/s12672-025-01958-wMartins DP, Correa-Netto NF, Melo N, Loggetto SR, de Liberal MMC. Overview of lymphoma diagnosis in Brazilian public health system patients: Open data analysis for health care planning. Hematol Transfus Cell Ther. 2022;44(1):40-48. doi:10.1016/j.htct.2020.08.017Sawalha Y. Relapsed/Refractory Diffuse Large B-Cell Lymphoma: A Look at the Approved and Emerging Therapies. J Pers Med. 2021;11(12):1345. Published 2021 Dec 10. doi:10.3390/jpm11121345Lymphoma Research Foundation. High-grade B-cell lymphoma. Updated May 2024. Accessed June 19, 2026. https://lymphoma.org/publication/high-grade-b-cell-lymphoma-fact-sheet/Davies AJ. The high-grade B-cell lymphomas: double hit and more. Blood. 2024;144(25):2583-2592. doi:10.1182/blood.2023020780Zayac AS, Landsburg DJ, Hughes ME, et al. High-grade B-cell lymphoma, not otherwise specified: a multi-institutional retrospective study. Blood Adv. 2023;7(21):6381-6394. doi:10.1182/bloodadvances.2023009731Olszewski AJ, Avigdor A, Bachy E, et al. Defining and treating high-grade B-cell lymphoma, NOS. Blood. 2022;140(9):943-954. doi:10.1182/blood.2022016534Lenz G, Trněný M, Burke JM, et al. Tafasitamab plus lenalidomide and R-CHOP versus R-CHOP for first-line treatment of patients with high-risk diffuse large B-cell lymphoma (frontMIND): a global, phase 3, randomised, double-blind, placebo-controlled trial. Lancet. Published online May 30, 2026. doi:10.1016/S0140-6736(26)00866-4 CONTACT INFORMATION:

Investor Contact: Knight Therapeutics Inc. Samira SakhiaArvind UtchanahPresident & Chief Executive OfficerChief Financial OfficerT: 514.484.4483T. 514.484.4483Email: [email protected]: [email protected]: www.knighttx.comWebsite: www.knighttx.com

Pre-Market Stock Futures: Futures are trading lower after a wild day on Wall Street, as stocks took off after Treasury Secretary Bessent announced the Treasury would double its current bond buyback, targeting 10- to 20-year and 20- to 30-year maturities. That sparked an initial big rally, which tapered by the close; still, all of the major indices finished the day higher. The Russell 2000 roared back after a rough Tuesday and finished at 3,032, up 0.48%, while the Dow Jones Industrials closed at 53,463, up 0.22%. The tech-heavy Nasdaq closed the day at 26,331, up 0.16%, and the S&P 500 closed at 7,707, up 0.21%.

Treasury Bonds: An announced bond buyback brought more than just the Treasury into the government-debt buying picture. Yields plunged across the Treasury curve, especially on the long end where the buybacks are concentrated. When it was all said and done on Wednesday, the 30-year long bond yield plunged almost 10 basis points to close at 5.19%, while the benchmark 10-year note was last seen at 4.64%, down almost 7 basis points. Many in the fixed-income complex felt the move was a political ploy, and that with the bond vigilantes ostensibly taking care of some of the Federal Reserve’s inflation problems, it was unnecessary. 

Oil and Gas: Oil closed higher on Wednesday, with both benchmarks ending the session near 4-week highs. Continued geopolitical tension in the Middle East and slow traffic through the Strait of Hormuz remain the biggest obstacles for a sector still trying to stabilize. By the final bell, Brent Crude closed at $91.65, up 0.69%, while West Texas Intermediate was last seen at $84.39, up 0.39%. Natural gas also had a solid day, finishing the session up 1.37% at $2.81. 

Gold: Precious metals had a huge day Wednesday, as bullion surged to close above the critical $4,500 level at $ 4,521, up 4.35%, while Silver joined the party, finishing at $66.89, up 5.83%. Yahoo Finance noted that Wednesday’s rally was driven by a sharp drop in long-term U.S. Treasury yields and a weaker U.S. dollar after the Treasury Department announced plans to double its bond buyback operations. 

Crypto: Cryptocurrencies surged higher on Wednesday, driven by the U.S. Treasury’s decision to double long-term bond buybacks to ease liquidity, a new SEC proposal outlining a crypto regulatory framework, and a high-profile crypto industry summit held at the White House. At 8 AM EDT, Bitcoin was trading at $71,960, while Ethereum was trading at $2,308.

24/7 Wall St. reviews dozens of analyst research reports every day to identify fresh investment ideas for investors and traders alike. These daily analyst notes include recommendations on stocks to buy, sell, or avoid, as well as new coverage initiations. Important reminder: No single analyst report should ever be the sole basis for buying or selling a stock.

Here are some of the top Wall Street analyst upgrades, downgrades, and initiations from Thursday, August 20, 2026.  

Upgrades: Analog Devices (NYSE: ADI | ADI Price Prediction) was upgraded to Outperform from Market Perform at Bernstein, with a $465 target price. Crown Castle (NYSE: CCI) was upgraded to Overweight from Equal Weight at Barclays, which trimmed the target price for the shares to $85 from $92. Etsy (NYSE: ETSY) was upgraded to Buy from Neutral at Bank of America, which has a $105 target price for the stock. EPR Properties (NYSE: EPR) was raised to Overweight from Equal Weight at KeyBanc, with a $70 target price. Merck & Co (NYSE: MRK) was upgraded to Overweight from Equal Weight at Morgan Stanley, which lifted the target price for the healthcare giant to $179 from $116. Downgrades: Allstate (NYSE: ALL) was downgraded to Underperform from Market Perform at Keefe Bruyette, which lowered the price target for the insurance giant to $250 from $255. Cactus (NYSE: WHD) was downgraded to Neutral from Buy at Citigroup, which has a $75 target price for the shares. Coty (NYSE: COTY) was cut to Sector Perform from Outperform at RBC Capital, which lowered the target price to $3 from $8. Liberty Latin America (NASDAQ: LILA) was cut to Underweight from Equal Weight at Morgan Stanley, with an unchanged $7 target price. TJX Companies (NYSE: TJX) was downgraded to Neutral from Buy at Citigroup, with a $154 target price. Initiations: Alphabet (NASDAQ: GOOGL) was initiated with a Buy rating at Rosenblatt, with a $410 target price. eBay (NASDAQ: EBAY) was started with a Buy rating at Rosenblatt, which has a $120 target price for the stock. Incyte (NASDAQ: INCY) was started with a Buy rating at Canaccord, with a $152 target price objective. Madison Square Garden Entertainment (NYSE: MSG) was initiated with a Neutral rating at Piper Sandler, with an $86 target price. Shopify (NASDAQ: SHOP) was initiated with a Buy rating at Rosenblatt, with a $175 target price. Contact [email protected] for any questions or corrections.

Biopharmaceutical company Incyte Corporation (INCY) gets Big Money support to gain 23% so far in 2026.

In this article:INCY

-0.33%

INCY discovers, develops, and sells proprietary therapeutics focused on hematology, oncology, inflammation, and autoimmunity. The company’s second-quarter fiscal 2026 earnings report, INCY showed $1.67 billion in quarterly revenue (a 38% year-over-year gain) led by Jakafi ($817 million) and Opzelura ($450 million), net sales of $1.49 billion (a 40% rise), and raised annual net sales guidance to a high end of $5.26 billion.

It’s no wonder INCY shares are up 23% this year, and they could rise more. MoneyFlows data shows how Big Money investors are again betting heavily on the stock.

Incyte Attracts Big Money Institutional volumes reveal plenty. In the last year, INCY has endured some choppiness. But it’s once again enjoying strong investor demand, which we believe to be institutional support.

Each green bar signals unusually large volumes in INCY shares. They reflect our proprietary inflow signal, pushing the stock higher:

INCY is up 48.4% in a year thanks to institutional support – green inflow signals came in bursts throughout the period. Source: www.moneyflows.com Plenty of health care names are under accumulation right now. But there’s a powerful fundamental story happening with Incyte.

Incyte Fundamental Analysis Institutional support and a healthy fundamental backdrop make this company worth investigating. As you can see, INCY has had strong sales and earnings growth:

3-year sales growth rate (+15%) 3-year EPS growth rate (+1,355%) Source: FactSet

Also, EPS is estimated to ramp higher this year by +106.4%.

Now it makes sense why the stock has been generating Big Money interest. INCY has a track record of strong financial performance.

Marrying great fundamentals with MoneyFlows software has found some big winning stocks over the long term.

Incyte has been a top-rated stock at MoneyFlows for years. That means the stock has unusual buy pressure and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.

In the last year, INCY has drawn five outlier inflow signals and gained 48.4%. The blue bars below show when INCY was a top pick on the Outlier 20 report…institutions can move shares higher:

Five outlier inflow signals have sent INCY shares higher – it’s attracted 30 outlier inflow signals since 2000. Source: www.moneyflows.com Tracking unusual volumes reveals the power of money flows.

This is a trait that most outlier stocks exhibit…the best of the best. Big Money demand drives stocks upward.

Incyte Price Prediction The INCY action isn’t new at all. Big Money buying in the shares is signaling to take notice. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a diversified portfolio.

Disclosure: the author holds no position in INCY at the time of publication.

If you are a Registered Investment Advisor (RIA) or are a serious investor, take your investing to the next level and follow our free weekly MoneyFlows insights.

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Lucas is a well-versed equity investor and educator. He currently is co-founder of research and analytics firm, MAPsignals.com, which focuses on finding outlier stocks by following the Big Money.

Latest news and analysis

WILMINGTON, Del.--(BUSINESS WIRE)--Incyte Corporation (Nasdaq: INCY) announced today that it granted restricted stock unit awards (RSUs) representing an aggregate of 21,556 shares of the Company’s common stock and stock option awards to purchase an aggregate of 18,172 shares of the Company’s common stock to 24 new employees. The awards were made under the Company’s 2024 Inducement Stock Incentive Plan, with a grant date and vesting commencement date of August 3, 2026, and were approved by the compensation committee of the Company’s board of directors as an inducement material to the new employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

Each RSU vests as to 25% of the shares subject to the RSU on each of the first four anniversaries of the vesting commencement date, subject to the employee's continued service with the Company on each such date. The stock options have an exercise price of $118.43 per share, which is equal to the closing price of the Company’s common stock on the grant date. Each stock option has a ten-year term and vests as to 25% of the original number of shares subject to the stock option on the one-year anniversary of the vesting commencement date with the remainder vesting in 36 successive equal monthly installments, subject to the employee’s continued service with the Company on each such date.

About Incyte
Incyte is redefining what’s possible in biopharmaceutical innovation. Through deep scientific expertise and a relentless focus on patients, we have built an established portfolio of first-in-class medicines and an extensive portfolio of next-generation medicines across our key franchises: Hematology, Oncology and Inflammation and Autoimmunity.

To learn more, visit Incyte.com and Investor.Incyte.com. Follow us on social media: LinkedIn, X and Instagram.

Minjuvi® (tafasitamab), in combination with rituximab and lenalidomide, is the first and only chemotherapy-free CD19 and CD20 dual-targeted immunotherapy combination regimen listed on the Pharmaceutical Benefits Scheme (PBS) for adults with relapsed or refractory follicular lymphoma (R/R FL) (Grade 1-3a).[1],[2] In the pivotal Phase 3 inMIND clinical trial, patients with R/R FL receiving the Minjuvi combination regimen experienced a significant improvement in progression-free survival, with a 57% reduction in the risk of disease progression, relapse or death, compared with placebo plus lenalidomide and rituximab.[3] Follicular lymphoma is the second most common non-Hodgkin lymphoma (NHL), with over 10,000 Australians living with the disease and approximately 1,500 Australians diagnosed each year.[4],[5] , /PRNewswire/ -- Independent biopharmaceutical company Specialised Therapeutics (ST) is pleased to announce the listing of Minjuvi® (tafasitamab), in combination with rituximab and lenalidomide, on the Pharmaceutical Benefits Scheme (PBS) for the treatment of Australian adults with relapsed or refractory follicular lymphoma (R/R FL) (Grade 1-3a).[1] This milestone follows the Australian registration of Minjuvi for R/R FL by the Therapeutic Goods Administration (TGA) in April 2026, via the Project Orbis process.[6]

The PBS listing of Minjuvi marks the availability of the first and only chemotherapy-free CD19 and CD20 dual-targeted immunotherapy combination regimen funded in Australia for this group of patients.[1],[2] Effective 1 August 2026, eligible patients with FL who have experienced relapses or disease progression on existing therapies will now have equitable access to a new treatment option for this difficult-to-treat condition.[1]

"As the first new therapy to be reimbursed on the PBS for R/R FL in nine years, we are extremely proud to have partnered with Incyte to bring Minjuvi to Australia," said Carlo Montagner, ST Chief Executive Officer. "After securing TGA registration for Minjuvi in R/R FL earlier this year, we have been focused on expediting PBS listing to ensure eligible Australian patients could have subsidised access to a new treatment option that may help lower the risk of disease progression, relapse or death, without delay."

ST entered into an exclusive distribution agreement with Incyte (NASDAQ:INCY) in 2021 to commercialise Minjuvi in Australia, New Zealand and Singapore.

Minjuvi is a CD19 targeting immunotherapy that works within a patient's immune system to help find and eliminate malignant B-cells.[7] In combination with rituximab and lenalidomide, Minjuvi delivers a complementary immune-mediated approach that helps control disease progression and supports improved long-term outcomes for patients with follicular lymphoma.[7]

The PBS reimbursement underscores the growing recognition of innovative immunotherapy-based treatment strategies in follicular lymphoma and reinforces ST's commitment to improving access to life-changing therapies for patients across the Asia-Pacific region.

"While follicular lymphoma can be a slow-growing disease that usually responds well to the first treatment, most patients are not cured. Many patients experience frequent relapses and require multiple therapies over their lifetime, which become progressively less effective, especially for those whose disease comes back soon after initial chemotherapy treatment," said Associate Professor Philip Thompson, Clinical Haematologist at the Peter MacCallum Cancer Centre and Royal Melbourne Hospital in Melbourne. "Today's PBS listing announcement is welcome news for the Australian clinical and patient community, providing us with a new, chemotherapy-free immunotherapy treatment for R/R FL."

Minjuvi is administered via intravenous (IV) infusion in a clinic or hospital setting.[7] Patients with R/R FL receive up to 12 treatment cycles of Minjuvi, along with oral lenalidomide capsules, while rituximab is delivered intravenously for the first five cycles.[7]

"Knowing that a chemotherapy-free immunotherapy is now funded by the PBS is an important development for the follicular lymphoma community," said Sharon Winton, Chief Executive Officer of Lymphoma Australia. "As patients manage the challenges of recurring disease, this new treatment milestone offers a valuable option that is deeply meaningful to them and their families."

The PBS listing of Minjuvi for R/R FL means these patients will now have equitable access to a new targeted immunotherapy combination treatment when they need it. It is important that patients with R/R FL speak with their doctor to understand the most suitable treatment option available for them.

For further details on Minjuvi, contact your healthcare professional and please refer to the approved Australian Consumer Medicine Information or Product Information available from the TGA website.

PBS Information:

This medicine is listed on the Pharmaceutical Benefits Scheme (PBS) — AUTHORITY REQUIRED. Refer to the PBS Schedule www.pbs.gov.au for full authority information.

Important Safety Information on Minjuvi[7]

Minjuvi should be administered to patients with an active infection only if the infection is treated appropriately and well controlled. Patients with a history of recurring or chronic infections may be at increased risk of infection and should be monitored appropriately. Patients should be advised to contact their healthcare professionals if fever or other evidence of potential infection, such as chills, cough or pain on urination, develops.

Treatment with Minjuvi in combination with lenalidomide and/or rituximab should not be initiated in female patients unless pregnancy has been excluded. In the inMIND study, the most common adverse reactions were infections (68%), including viral infections (41%) and bacterial infections (27%); neutropenia (57%), rash (36.4%), asthenia (34.9%), pyrexia (19%), thrombocytopenia (17%), anaemia (17%), infusion related reaction (15.9%), pruritus (15.6%), and headache (10.4%). The most common serious adverse reactions were infections (26%), including viral infections (13%) and bacterial infections (6%), febrile neutropenia (2.8%), and pyrexia (1.8%).

Treatment with tafasitamab can cause serious or severe myelosuppression including neutropenia, thrombocytopenia, and anaemia. Complete blood counts should be monitored throughout treatment and prior to administration of each treatment cycle.

Ends.

About Minjuvi® (tafasitamab)

Minjuvi® (tafasitamab) is a humanised Fc-modified cytolytic CD19-targeting monoclonal antibody. Minjuvi incorporates an XmAb® engineered Fc domain, which mediates B-cell lysis through apoptosis and immune effector mechanism including Antibody-Dependent Cell-Mediated Cytotoxicity (ADCC) and Antibody-Dependent Cellular Phagocytosis (ADCP).[7] Incyte licenses exclusive worldwide rights to develop and commercialise Minjuvi from Xencor, Inc. 

In the U.S., Monjuvi® (tafasitamab-cxix) is approved by the U.S. Food and Drug Administration in combination with lenalidomide and rituximab for the treatment of adult patients with relapsed or refractory follicular lymphoma (FL). Additionally, Monjuvi received accelerated approval in the United States in combination with lenalidomide for the treatment of adult patients with relapsed or refractory DLBCL not otherwise specified, including DLBCL arising from low grade lymphoma, and who are not eligible for ASCT. 

Monjuvi is not indicated and is not recommended for the treatment of patients with relapsed or refractory marginal zone lymphoma outside of controlled clinical trials. 

In Europe, Minjuvi® (tafasitamab) received conditional Marketing Authorisation from the European Medicines Agency in combination with lenalidomide, followed by Minjuvi monotherapy, for the treatment of adult patients with relapsed or refractory DLBCL who are not eligible for ASCT. In addition, in December 2025, the EMA approved Minjuvi, in combination with lenalidomide and rituximab, for the treatment of adult patients with relapsed or refractory FL (Grade 1-3a) after at least one line of systemic therapy. 

In Japan, Minjuvi is approved in combination with lenalidomide for the treatment of adults with relapsed or refractory DLBCL. Minjuvi is also approved in combination with rituximab and lenalidomide for adult patients with relapsed or refractory FL (2L+ FL). 

In Australia, Minjuvi® (tafasitamab) is indicated in combination with lenalidomide followed by Minjuvi monotherapy for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) who are not eligible for autologous stem cell transplant (ASCT).[7]

▼ This medicine is included in the TGA Black Triangle Scheme. Please report suspected adverse events to the TGA.[7]

XmAb® is a registered trademark of Xencor, Inc. 

Monjuvi and Minjuvi are registered trademarks of Incyte. 

About the inMIND Study[3]

A global, double-blind, randomised, placebo-controlled Phase 3 study, inMIND (NCT04680052) evaluated the efficacy and safety of Minjuvi (tafasitamab) in combination with rituximab and lenalidomide compared with placebo in combination with rituximab and lenalidomide in patients with relapsed or refractory follicular lymphoma (FL) Grade 1 to 3a or relapsed or refractory nodal, splenic or extranodal marginal zone lymphoma (MZL). The study enrolled a total of 654 adults (age ≥18 years), including 548 participants with R/R FL. 54 Australians participated in the study across 12 local trial sites around the country.

The primary endpoint of the study is progression-free survival (PFS) by investigator assessment in the FL population, and the key secondary endpoints are PFS in the overall population as well as positron emission tomography complete response (PET-CR) and overall survival (OS) in the FL population.

The clinical trial met its primary endpoint, with the data demonstrating a statistically significant and clinically meaningful improvement in progression-free survival (PFS) in comparison to placebo added to lenalidomide and rituximab. Patients receiving Minjuvi in combination with rituximab and lenalidomide achieved a median PFS by investigator assessment of 22.4 months (95% CI, 19.2-not evaluable [NE]) compared to 13.9 months (95% CI, 11.5-16.4) in the control arm (hazard ratio [HR]: 0.43 [95% CI, 0.32-0.58]; P<0.0001). The PFS assessed by an Independent Review Committee (IRC) was consistent with investigator-based results. Median PFS by IRC was not reached (95% CI, 19.3-NE) in the Minjuvi group versus 16.0 months (95% CI, 13.9-21.1) in the placebo group (HR: 0.41 [95% CI, 0.29-0.56].

Minjuvi was generally well-tolerated, with a manageable safety profile. Safety and tolerability were comparable with the addition of Minjuvi to lenalidomide in combination with rituximab. The most common adverse reactions in the Phase 3 study (≥20%) in patients receiving Minjuvi, excluding laboratory abnormalities, were respiratory tract infections (including COVID-19 infection and pneumonia), diarrhoea, rash, fatigue, constipation, musculoskeletal pain and cough.

About Specialised Therapeutics

Founded in 2007, Specialised Therapeutics is an independent specialty pharmaceutical company, providing novel therapies and technologies to patients in Australia, New Zealand and across Southeast Asia. Headquartered in Singapore, ST partners with global pharmaceutical, biotech and diagnostic companies to bring novel healthcare opportunities to patients who are impacted by a range of diseases. ST has built a strong track record of success, navigating complex regulatory, reimbursement and commercialisation environments in its diverse regions across multiple therapeutic areas. The ST mission is to provide specialty therapies where there is an unmet need to communities that would otherwise not have ready access to such therapies. The company's broad therapeutic portfolio currently includes novel agents in oncology, haematology, CNS, neurology, endocrinology, ophthalmology and supportive care, although it is not confined to these areas.           

Additional information can be found at www.stbiopharma.com.

REFERENCES:

[1]. Australian Government, Department of Health, Disability and Ageing. PBS Schedule: PBS Publications & Downloads [August 2026].

[2]. NCCN Clinical Practice Guidelines in Oncology. B-Cell Lymphomas. Version 3.2026.

[3]. Sehn LH, et al. Lancet. 2026 Jan 10;407(10524):133-146.

[4]. Lymphoma Australia. Types of Lymphoma: Follicular Lymphoma. [Accessed July 2026].

[5]. Australian Institute of Health and Welfare (AIHW). Cancer Data in Australia: Prevalence Data Workbook – Blood Cancer Histology. [Accessed July 2026].

[6]. Therapeutic Goods Administration. Australian Register of Therapeutic Goods (ARTG): MINJUVI (tafasitamab). [Accessed July 2026].

[7]. MINJUVI Australian Product Information. 20 April 2026.

SOURCE Specialised Therapeutics

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Stock to Watch: Incyte (INCY - Free Report) Wilmington, Delaware based Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of proprietary therapeutics. The company conducts its European clinical development operations in Geneva, Switzerland.

INCY is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

Additionally, the company could be a top pick for growth investors. INCY has a Growth Style Score of B, forecasting year-over-year earnings growth of 15.7% for the current fiscal year.

Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.14 to $7.87 per share. INCY boasts an average earnings surprise of +28.7%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, INCY should be on investors' short list.

Incyte Corporation (INCY) Q2 2026 Earnings Call Transcript

Can Incyte Deliver on 447% EPS Forecasts and Pipeline Hype?Incyte NASDAQ: INCY reported second-quarter 2026 net product sales of $1.49 billion, up 40% from a year earlier, supported by demand growth across its marketed portfolio and a one-time non-cash benefit tied to the resolution of a CMS matter involving OPZELURA.

Excluding the $246 million one-time benefit, total net sales increased 17% year over year, Chief Executive Officer Bill Meury said on the company’s earnings call. Meury said every marketed product recorded year-over-year growth in both U.S. and international markets.

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5 top healthcare stocks for earnings growth in 2024The company raised its full-year 2026 total net sales outlook to a range of $5.13 billion to $5.26 billion. It also increased OPZELURA sales guidance and narrowed and raised its outlook for the hematology and oncology portfolio.

Jakafi Remains Foundational as Other Products Expand Jakafi second-quarter sales were $817 million, up 7% from the prior-year period. Prescription demand increased 9% across myelofibrosis, polycythemia vera and graft-versus-host disease, with polycythemia vera serving as the largest growth driver, Meury said.

Argenx's 28% Surge & Promising Product Propel Investor ConfidenceIncyte recently launched Jakafi XR, an extended-release version of the product. Jakafi XR generated $10 million in second-quarter sales, primarily from initial inventory build. The company expects full-year XR sales of approximately $40 million to $50 million, included within its broader Jakafi guidance.

Mohamed Issa, executive vice president and head of U.S. Commercial, said payer reimbursement has begun and several major insurers have placed Jakafi XR on formulary. Incyte is targeting 50% to 70% formulary coverage by year-end and expects the extended-release product to represent roughly 3% to 5% of demand by December.

Sales from Incyte’s business excluding Jakafi totaled $671 million, up 127% year over year. Excluding the one-time OPZELURA benefit, the segment grew 44%. Meury said the company remains on track toward its objective of generating $3 billion to $4 billion in net sales from the core business excluding Jakafi by 2030.

OPZELURA Benefit Lifts Guidance OPZELURA contributed $450 million in second-quarter sales, including $204 million in net product sales and the $246 million non-cash benefit associated with the CMS settlement and the reversal of previously accrued balances related to Medicaid rebate litigation.

U.S. OPZELURA sales excluding the one-time benefit rose 22% to $161 million. Prescription volume increased 26%, compared with 21% growth for the overall market, according to Meury. The company said OPZELURA captured 46% of branded topical new prescription volume.

The CMS resolution improved the product’s average selling price and gross-to-net profile, Meury said. He said the gross-to-net rate moved from the low 60% range to the high 50% range. Incyte now expects $1.05 billion to $1.10 billion in full-year OPZELURA sales, including an estimated $300 million to $310 million impact from the settlement.

International OPZELURA sales rose 34% to $43 million. The company expects a final European Commission decision for OPZELURA in moderate atopic dermatitis during the third quarter after receiving a positive opinion from the Committee for Medicinal Products for Human Use in June.

Hematology and Oncology Portfolio Gains Momentum Hematology and oncology sales increased 69% to $222 million. Niktimvo generated $60 million in sales, up 67%, with more than 300 new patients initiating therapy during the quarter and more than 1,200 patients treated. Incyte said it holds approximately one-third of the third-line-and-beyond market.

MONJUVI sales increased 72% to $54 million, driven primarily by uptake in follicular lymphoma in international markets, including Japan following a recent approval and launch. ZYNYZ sales rose fourfold to $50 million, with the company reporting more than a 40% share in first-line squamous cell carcinoma of the anal canal in the U.S. 12 months after launch.

Incyte narrowed and raised its 2026 hematology and oncology sales forecast to $860 million to $890 million.

Pipeline Updates Include Vega Acquisition and Program Discontinuation The company said it has advanced 13 of 15 planned pivotal studies, with the remaining two expected to begin by year-end. Regulatory reviews are ongoing for povorcitinib in hidradenitis suppurativa and tafasitamab in newly diagnosed diffuse large B-cell lymphoma, with potential approvals and launches beginning later in 2026 and extending into 2027.

Incyte also acquired Vega Therapeutics, adding latarcibart, a phase III treatment candidate for von Willebrand disease. Pablo Cagnoni, Incyte’s president and global head of research and development, said data from the VIVID-3 study showed an 81% median reduction in annualized bleeding rate across patients with different von Willebrand disease subtypes and bleeding types. Top-line data from the phase III VIVID-6 trial are expected by early 2029.

Meanwhile, Incyte discontinued development of its 058 program targeting JAK2 V617F in myeloproliferative neoplasms. Cagnoni said the company concluded that the molecule did not demonstrate the profile needed to be a differentiated therapy, though Incyte continues to view JAK2 V617F as an important target and is prioritizing next-generation programs.

The company plans to present expanded early-stage data for its KRAS G12D inhibitor, INCB161734, its TGF-beta receptor 2 by PD-1 bispecific antibody, and its CDK2 inhibitor at the European Society for Medical Oncology Congress in October.

Expenses Rise With Development Investment and Vega Transaction GAAP operating expenses were $976 million in the quarter, up 42% from a year earlier. Incyte said the comparison reflected a lower prior-year expense base following a $242 million Novartis settlement in the second quarter of 2025. Excluding that favorable adjustment, operating expenses rose 5%.

GAAP research and development expense increased 4% to $517 million, while selling, general and administrative expense rose 6% to $352 million, driven in part by pre-launch activities for povorcitinib. The company ended the quarter with $4.5 billion in cash and cash equivalents, including the impact of the Vega acquisition completed in July.

Incyte raised its 2026 GAAP R&D and SG&A expense outlook to $4.915 billion to $4.995 billion. The revised forecast includes approximately $1.27 billion related to the Vega transaction’s upfront in-process research and development payment and transaction costs, as well as roughly $50 million for continued phase III development of latarcibart.

About Incyte (NASDAQ:INCY)Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company's research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company's flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

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How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

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That's where the Style Scores come in.

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The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.

For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Incyte (INCY - Free Report) Wilmington, Delaware based Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of proprietary therapeutics. The company conducts its European clinical development operations in Geneva, Switzerland.

INCY is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 15.11; value investors should take notice.

Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.14 to $7.87 per share. INCY boasts an average earnings surprise of +18.3%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, INCY should be on investors' short list.

Drugmaker Incyte Corp reported on Tuesday higher second-quarter earnings and raised its annual revenue forecast after it settled ​a lawsuit with the U.S. government over Medicaid rebates ‌tied to eczema cream Opzelura.

HomeEarnings AnalysisHealthcare 

SummaryIncyte Corporation ends the first half of 2026 on a high note.Yesterday, its stock reached a 52-week high of $120.70.In my view, key drivers behind Incyte's recent rally are the promising efficacy of latarcibart in von Willebrand disease, along with strong performance from Opzelura and Zynyz.So, sales of Zynyz rose 20.8% quarter-over-quarter to $50 million in Q2.However, given the sluggish demand for Iclusig and Incyte's forward non-GAAP P/E of 45x, I'm downgrading INCY's rating to Hold. jacoblund/iStock via Getty Images

Earlier this morning, Incyte Corporation (INCY) released another strong Q2 earnings report.

So, in Q2, its revenue was $1.67 billion, up 37.7% year-over-year and 31.5% QoQ.

Meanwhile, Incyte’s non-GAAP EPS of $3.09 also came in well above

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Posted by Defense World Staff on Jul 27th, 2026

Entropy Technologies LP increased its position in Incyte Corporation (NASDAQ:INCY – Free Report) by 29.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 26,077 shares of the biopharmaceutical company’s stock after buying an additional 5,961 shares during the period. Entropy Technologies LP’s holdings in Incyte were worth $2,454,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Elyxium Wealth LLC purchased a new position in shares of Incyte in the fourth quarter valued at about $28,000. Smithfield Trust Co boosted its stake in shares of Incyte by 135.0% in the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 162 shares during the period. MUFG Securities EMEA plc purchased a new stake in shares of Incyte during the second quarter worth about $32,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Incyte during the second quarter worth about $33,000. Finally, Leonteq Securities AG bought a new stake in Incyte during the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets A number of research analysts recently commented on the company. Stifel Nicolaus set a $123.00 price target on Incyte in a report on Tuesday, June 9th. JPMorgan Chase & Co. lifted their price objective on shares of Incyte from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday. HC Wainwright reissued a “buy” rating and issued a $140.00 target price on shares of Incyte in a report on Tuesday, July 21st. UBS Group upped their target price on shares of Incyte from $103.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Incyte in a research note on Wednesday, July 15th. Eight research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $111.10.

View Our Latest Stock Analysis on Incyte

Incyte Price Performance Incyte stock opened at $117.67 on Monday. Incyte Corporation has a 52-week low of $69.69 and a 52-week high of $119.60. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average is $106.82 and its 200 day moving average is $101.63. The company has a market cap of $23.51 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.06 and a beta of 0.76.

Incyte (NASDAQ:INCY – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the company posted $1.16 EPS. The business’s revenue was up 20.9% on a year-over-year basis. Sell-side analysts forecast that Incyte Corporation will post 6.63 EPS for the current fiscal year.

Incyte Company Profile (Free Report)

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.

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Key Takeaways INCY is set to report Q2 results with revenue estimates at $1.40B and earnings expected at $1.85 per share.INCY may benefit from strong Jakafi demand, higher royalties and Opzelura growth with a one-time Q2 benefit.Incyte's newer products, including Niktimvo and Monjuvi, are expected to add to second-quarter revenues. Incyte Corporation (INCY - Free Report) is expected to beat expectations when it reports second-quarter 2026 earnings on July 28, before the opening bell. The Zacks Consensus Estimate for the to-be-reported quarter’s revenues is pegged at $1.40 billion, while the same for earnings is pinned at $1.85 per share.

Let’s see how things might have shaped up before the announcement.

Factors Likely to Influence INCY's Q2 ResultsIncyte primarily derives product revenues from the sales of its lead drug, Jakafi (ruxolitinib), in the United States, as well as from the sales of other marketed drugs. Its momentum is likely to have continued on the back of strong Jakafi sales, a first-in-class, selective JAK1/JAK2 inhibitor, in all approved indications (polycythemia vera, myelofibrosis and refractory acute graft-versus-host disease [GvHD]).

The Zacks Consensus Estimate for Jakafi's second-quarter sales is pegged at $796.5 million.

Incyte also earns product royalty revenues from Novartis (NVS - Free Report) for the commercialization of Jakafi in ex-U.S. markets.

While Incyte markets Jakafi in the United States, Novartis markets the same drug as Jakavi outside the United States. INCY is expected to have received higher royalties from NVS in the to-be-reported quarter due to potentially higher Jakavi sales.

Year to date, Incyte shares have gained 18.1% compared with the industry’s 1.3% growth.

Image Source: Zacks Investment Research

Incyte also receives royalties from the sales of Tabrecta (capmatinib), which is approved for treating adult patients with metastatic non-small cell lung cancer. Novartis has exclusive worldwide development and commercialization rights to Tabrecta.

In the to-be-reported quarter, Opzelura (ruxolitinib cream) sales are expected to have been driven by continued growth in new patient starts and refills in the United States, for both its approved indications, atopic dermatitis and vitiligo. Incyte's second-quarter results are expected to benefit from its recent settlement with the CMS regarding Medicaid rebate rules for Opzelura. The agreement eliminates potential liabilities related to the application of line extension regulations, leading to a one-time, non-cash benefit of approximately $246 million in the second quarter from the reversal of previously accrued balances. The settlement should also improve Opzelura's gross-to-net performance going forward, and management is expected to update its financial guidance to reflect the impact.

The Zacks Consensus Estimate for Opzelura’s second-quarter sales is pegged at $214.7 million.

While Jakafi’s sales and royalties are the key catalysts for Incyte’s revenue growth, sales of other drugs like Minjuvi, Pemazyre and Iclusig, and Olumiant’s royalties from Eli Lilly (LLY - Free Report) are also likely to have contributed to Incyte’s top line. INCY has a collaboration agreement with LLY for Olumiant. The drug is a once-daily oral JAK inhibitor discovered by Incyte and licensed to Eli Lilly. It is approved for several types of autoimmune diseases.

Incyte acquired exclusive global rights to Monjuvi/Minjuvi (tafasitamab), initially approved for the treatment of relapsed or refractory diffuse large B-cell lymphoma, from MorphoSys in 2024. Last year, the FDA approved Monjuvi for relapsed or refractory follicular lymphoma, expanding its label and boosting sales. Minjuvi also secured approvals for this indication in the EU and Japan in 2025.

The Zacks Consensus Estimate for Iclusig, Minjuvi/Monjuvi and Pemazyre’s second-quarter sales is pegged at $35.5 million, $50.6 million and $22.4 million, respectively. Incremental sales from Zynyz, too, are expected to have boosted Incyte’s revenues in the to-be-reported quarter.

Incyte and partner Syndax launched Niktimvo (axatilimab-csfr) in the United States in early 2025 after FDA approval for chronic graft-versus-host disease (cGvHD) patients who have failed at least two prior systemic therapies. Niktimvo is Incyte's second approved treatment for cGvHD (third-line). The Zacks Consensus Estimate for Niktimvo’s second-quarter sales is pegged at $63.5 million.

Higher research and development expenses, as well as increased selling, general and administrative costs, are likely to have escalated operating expenses in the second quarter of 2026.

INCY's Earnings Surprise HistoryIncyte has a mixed history of earnings surprises. The company beat earnings estimates in three of the trailing four quarters, while missing the same on the remaining occasion, delivering an average surprise of 18.26%. In the last reported quarter, INCY posted an earnings surprise of 31.16%.

Earnings Whispers for INCY StockOur proven model predicts an earnings beat for INCY this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here, as you will see below.

INCY’s Earnings ESP: Incyte’s Earnings ESP is +18.47% as the Most Accurate Estimate currently stands at $2.19, higher than the Zacks Consensus Estimate, which is pegged at $1.85. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.

INCY’s Zacks Rank: INCY has a Zacks Rank #3 at present.

Another Stock With a Favorable CombinationHere is a stock worth considering from the healthcare space, as our model shows that this, too, has the right combination of elements to beat on earnings this reporting cycle.

ACADIA Pharmaceuticals (ACAD - Free Report) has an Earnings ESP of +25.00% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of ACAD have lost 7% year to date. The company’s earnings beat estimates in three of the trailing four quarters and missed on the remaining occasion, delivering an average surprise of 20.83%. Acadia is scheduled to report second-quarter results on Aug. 4.

Key Takeaways HALO grants INCY the right to ENHANZE to support subcutaneous formulations of INCA033989.HALO will receive upfront, milestone and potential royalty payments if products are commercialized.HALO's ENHANZE aims to enable more convenient subcutaneous dosing regimens for patients. Halozyme Therapeutics (HALO - Free Report) announced that it has entered into a global collaboration and license agreement with Incyte (INCY - Free Report) to evaluate additional subcutaneous formulations of the latter’s INCA033989, a first-in-class mutant calreticulin (mutCALR)-targeted monoclonal antibody for a cancer indication.

With the partnership, the companies are looking to investigate additional subcutaneous formulations of Incyte’s INCA033989, utilizing Halozyme's proprietary ENHANZE drug delivery technology in patients with mutCALR-expressing myeloproliferative neoplasms (MPNs).

The companies aim to develop more convenient subcutaneous dosing regimens that could improve the treatment experience for patients with mutCALR-expressing MPNs.

The deal gives Incyte the rights to develop and commercialize Halozyme’s ENHANZE drug delivery technology with its mutCALR development program and an option to nominate up to two additional targets for use with ENHANZE.

Per the agreement, Halozyme will receive an undisclosed amount of upfront payment from Incyte as well as additional milestone payments upon the achievement of specified development, regulatory and commercial milestones. Halozyme is also eligible to receive royalties on future net sales if a product is commercialized from this partnership using ENHANZE.

HALO’s Price PerformanceYear to date, shares of Halozyme have increased 14.6% compared with the industry’s rise of 3.2%.

Image Source: Zacks Investment Research

HALO’s ENHANZE Technology Aid RevenuesHalozyme’s ENHANZE drug delivery technology has been used in the development of subcutaneous formulations of various approved drugs through partnerships with large drugmakers. The company has several marketed partnered drugs based on this technology, including the subcutaneous formulation of J&J’s (JNJ - Free Report) Darzalex and Roche’s (RHHBY - Free Report) Phesgo.

Per the agreements, these companies have been granted worldwide license rights to develop and commercialize their products using ENHANZE technology. These deals generate royalties on sales of marketed drugs, milestone payments and annual license fees, which comprise Halozyme’s top line.

Halozyme’s top line also comprises product sales, royalty payments from Roche for Phesgo and J&J for subcutaneous Darzalex as well as revenues under collaboration agreements related to its ENHANZE technology.

Halozyme’s royalty revenues totaled $240.7 million in the first quarter of 2026, up 43% from the year-ago quarter’s level. This was mainly due to the robust demand for Phesgo, subcutaneous Darzalex and Vyvgart Hytrulo, on which it earns royalties.

Management expects royalty revenues to be in the range of $1.13-$1.17 billion in 2026, implying year-over-year growth of 30% to 35%.

HALO’s Zacks RankHalozyme currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Posted by Defense World Staff on Jul 21st, 2026

Bank of New York Mellon Corp lessened its holdings in Incyte Corporation (NASDAQ:INCY – Free Report) by 1.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 989,709 shares of the biopharmaceutical company’s stock after selling 12,540 shares during the period. Bank of New York Mellon Corp owned about 0.50% of Incyte worth $93,151,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in Incyte by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 4,993,012 shares of the biopharmaceutical company’s stock valued at $491,500,000 after buying an additional 506,842 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Incyte by 13.2% during the 4th quarter. Invesco Ltd. now owns 3,473,781 shares of the biopharmaceutical company’s stock worth $343,105,000 after acquiring an additional 405,611 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Incyte by 13.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,103,946 shares of the biopharmaceutical company’s stock worth $263,246,000 after acquiring an additional 373,298 shares during the last quarter. Morgan Stanley grew its position in shares of Incyte by 0.9% during the 4th quarter. Morgan Stanley now owns 2,663,823 shares of the biopharmaceutical company’s stock valued at $263,106,000 after acquiring an additional 23,087 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Incyte by 7.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,480,793 shares of the biopharmaceutical company’s stock valued at $245,028,000 after acquiring an additional 161,405 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets A number of equities analysts recently commented on the company. BMO Capital Markets raised their target price on Incyte from $94.00 to $112.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Citigroup reissued a “market perform” rating on shares of Incyte in a report on Wednesday, July 15th. Truist Financial upped their price target on Incyte from $103.00 to $105.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. Royal Bank Of Canada raised their price objective on Incyte from $95.00 to $99.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Incyte in a research report on Tuesday, June 9th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $109.95.

Read Our Latest Analysis on INCY

Incyte Stock Performance Incyte stock opened at $115.65 on Tuesday. The company’s 50-day moving average price is $105.29 and its 200-day moving average price is $101.16. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. The company has a market cap of $23.10 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.06 and a beta of 0.76. Incyte Corporation has a twelve month low of $67.17 and a twelve month high of $119.60.

Incyte (NASDAQ:INCY – Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 EPS. On average, equities research analysts forecast that Incyte Corporation will post 6.61 EPS for the current fiscal year.

Incyte Company Profile (Free Report)

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.

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Agreement provides Incyte the rights to develop and commercialize ENHANZE® with its mutCALR development program and an option to nominate up to two additional targets

, /PRNewswire/ -- Halozyme Therapeutics, Inc. (Nasdaq: HALO) ("Halozyme" or the "Company") today announced that it has entered into a global collaboration and license agreement with Incyte (Nasdaq: INCY) to evaluate additional subcutaneous formulations of INCA033989, a first-in-class mutant calreticulin (mutCALR)-targeted monoclonal antibody, in patients with mutCALR-expressing myeloproliferative neoplasms (MPNs), utilizing Halozyme's proprietary ENHANZE® drug delivery technology. The collaboration will focus on the potential for ENHANZE® to strengthen the subcutaneous formulation currently in development for INCA033989, with the goal of enabling more convenient delivery and dosing regimens that may improve the treatment experience.

Under the terms of the agreement, Halozyme will receive an upfront payment from Incyte and is eligible to receive additional payments upon achievement of agreed upon milestones. In addition, Halozyme is eligible to receive royalties on net sales of commercialized medicines using ENHANZE®. Under the collaboration, Incyte also has the option to nominate up to two additional targets for use with ENHANZE®.

"This collaboration with Incyte underscores the continued momentum and broad applicability of our ENHANZE technology across high-value therapeutic areas," said Dr. Helen Torley, President and Chief Executive Officer of Halozyme. "Incyte brings a strong portfolio and deep expertise in hematology, and we look forward to working together to enable the development of more convenient subcutaneous treatment options for patients. This agreement builds on Halozyme's established track record of successful collaborations with leading biopharmaceutical companies and further diversifies our portfolio of partnered programs across multiple therapeutic areas."

About Halozyme

Halozyme is a biopharmaceutical company advancing disruptive solutions to improve patient experiences and outcomes for emerging and established therapies. As the innovators of ENHANZE® drug delivery technology with the proprietary enzyme rHuPH20, Halozyme's commercially-validated solution facilitates the subcutaneous delivery of injected drugs and fluids, reducing treatment burden and improving convenience. ENHANZE® has touched more than one million patient lives through ten commercialized products across over 100 global markets and is licensed to leading pharmaceutical and biotechnology companies including Roche, Takeda, Pfizer, Janssen, AbbVie, Eli Lilly, Bristol-Myers Squibb, argenx, ViiV Healthcare, Chugai Pharmaceutical, Acumen Pharmaceuticals, Merus N.V., Skye Bioscience and GSK.

Halozyme expanded its drug delivery technology portfolio to develop partner products using Hypercon™ and Surf Bio's hyperconcentration technology. Hypercon™ is an innovative microparticle technology expected to set a new standard in hyperconcentration of drugs and biologics by reducing injection volume for the same dosage and enabling administration in at‑home and healthcare‑provider settings. The addition of Surf Bio's polymer‑based hyperconcentration technology further broadens the range of biologics that can be delivered subcutaneously, meaningfully expanding the scope of opportunities across therapeutic modalities. Together, Hypercon™ and Surf Bio's technology complement ENHANZE® by enabling creation and delivery of highly concentrated biologics. The Hypercon™ technology has been licensed to leading biopharmaceutical partners, including Janssen, Eli Lilly, argenx, Vertex Pharmaceuticals and Oruka Therapeutics.

Halozyme also develops, manufactures and commercializes drug-device combination products using advanced auto-injector technologies designed to improve convenience, reliability and tolerability, enhancing patient comfort and adherence. The Company has two proprietary commercial products, Hylenex® and XYOSTED®, partnered commercial products and ongoing development programs with Teva Pharmaceuticals and McDermott Laboratories Limited, an affiliate of Viatris Inc.

Halozyme is headquartered in San Diego, CA, with offices in Ewing, NJ; Minnetonka, MN; and Boston, MA. Minnetonka is also the site of its operations facility.

For more information, visit www.halozyme.com and connect with us on LinkedIn.

Safe Harbor Statement

In addition to historical information, the statements set forth above include forward-looking statements including, without limitation, statements concerning royalty revenue growth, margins and durability, potential new partnerships and innovations, the possible activity, benefits and attributes of ENHANZE®, the possible method of action of ENHANZE®, its potential application to aid in the dispersion and absorption of other injected therapeutic drugs and statements concerning certain other potential benefits of ENHANZE® including facilitating more convenient administration and dosing regimens of injectable medications through subcutaneous delivery and potentially lowering the treatment burden, easing treatment access and improving the treatment experience for patients. These forward-looking statements may also include statements regarding the product development and commercialization efforts of Halozyme's collaboration partner (including the potential advancement, regulatory approval and launch of products as a result of such efforts and the potential nomination of additional targets) and Halozyme's potential receipt of payments associated with achievement of certain milestones, and royalties on sales of commercialized products. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements are typically, but not always, identified through use of the words "expect," "believe," "enable," "may," "will," "could," "intends," "estimate," "anticipate," "plan," "predict," "probable," "potential," "possible," "should," "continue" and other words of similar meaning. Actual results could differ materially from the expectations contained in forward-looking statements as a result of several factors, including risks and uncertainties concerning whether development, regulatory and sales-based milestones will be achieved, uncertainties concerning whether additional targets are nominated under the collaboration agreement referred to in this press release and whether collaborative products are ultimately developed, approved or commercialized and the potential future market for such products, unexpected levels of revenue growth, expenditures and costs, unexpected results or delays in development and regulatory review, unexpected regulatory approval requirements, unexpected adverse events or patient outcomes and competitive conditions. These and other factors that may result in differences are discussed in greater detail in Halozyme's most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission. Except as required by law, Halozyme undertakes no duty to update forward-looking statements to reflect events after the date of this release.

Contacts:

Tram Bui
VP, Investor Relations and Corporate Communications
609-333-7668
[email protected]

Sydney Charlton
Teneo
917-972-8407
[email protected]

SOURCE Halozyme Therapeutics, Inc.

Incyte (Nasdaq: INCY) today announced complete safety and efficacy data from all patients (n=16) enrolled in the Phase 1/2 multidose study of VGA039 (latarciba

Incyte (INCY 0.67%) and TG Therapeutics (TGTX 1.43%) are commercial-stage biotech companies that are using blockbuster drugs to fund the growth of their promising pipelines. Incyte is known for its work in Janus kinase (JAK) inhibition, focusing on dermatology, oncology, hematology, inflammation, and autoimmune disorders.TG Therapeutics is focused on the acquisition, development, and commercialization of novel treatments for B-cell diseases.

Both stocks are delivering strong returns. Shares of Incyte are up more than 17% this year, while TG Therapeutics is up nearly 90% so far in 2026.

Here are reasons to buy the pharmaceutical stocks:

Image source: Getty Images.

Incyte has strong cash flow and operational beats Incyte's financial health is anchored by its blockbuster JAK inhibitor, Jakafi, for rare blood cancers, and its fast-growing dermatology cream, Opzelura, approved to treat vitiligo and eczema.

In the first quarter, Incyte reported Jakafi sales of $758 million, up 7% year over year, and Opzelura had sales of $143 million, up 20% over the same period last year. Overall revenue was $1.27 billion, up 21% year over year, and earnings per share (EPS) were $1.47, up 83.7% over the first quarter of 2025. Adjusted EPS was $1.81, beating the analysts' consensus of $1.34.

The growing diversification of its pipeline Incyte is aggressively using its free cash flow to buy its way out of concentration risk. A prime example is its recent $1.25 billion acquisition of Vega Therapeutics, which gives it a highly promising phase 3 subcutaneous bleeding disorder asset (VGA039). This expands its footprint into hematology outside of cancer, padding its late-stage pipeline with potential first-in-class multibillion-dollar drugs.

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CEO Bill Meury said Incyte has 10 phase 3 studies underway and anticipates four new approvals and launches in cancer and immunology through early 2027. One key late-stage pipeline therapy is Monjuvi, which performed well as a combination therapy in a phase 3 trial as a first-line treatment for diffuse large B-cell lymphoma (DLBCL).

Another is povorcitinib to treat the skin conditions hidradenitis suppurativa and nonsegmental vitiligo. The company also has high hopes for INCB161734 as a treatment for pancreatic ductal adenocarcinoma.

Highly efficient financial metrics For a biotech, Incyte demonstrates remarkable capital efficiency. It has an exceptional return on equity of more than 30%, reflecting a management team that is proficient at turning shareholder investments and cash reserves into real, tangible earnings.

TG Therapeutics is riding Briumvi momentum Briumvi, TG Therapeutics' IV infusion for the treatment of relapsing forms of multiple sclerosis (MS), is driving growth. Management recently raised its full-year revenue guidance to $925 million after the drug brought in $194.8 million in first-quarter U.S. sales alone. The company also raised full-year Briumi guidance to $885 million to $900 million in sales.

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The drug is in a phase 3 trial as an at-home self-administered subcutaneous injection format to treat MS. It is also being examined for treatment-resistant schizophrenia in patients who do not fully respond to standard antipsychotics, as well as a subcutaneous form to treat Myasthenia Gravis, a chronic, rare autoimmune neuromuscular disorder.

It has an attractive acquisition profile TG Therapeutics has a powerhouse gross-margin profile sitting around 83%. In the first quarter, the company reported revenue of $204.9 million, up 69.5%, year over year. EPS was $0.12, up 300% over the same period a year ago.

Given the recent wave of multibillion-dollar merger and acquisition deals sweeping the biotech sector, the company's highly profitable, single-blockbuster commercial engine makes it a prime, highly lucrative takeover target for a pharmaceutical giant looking to buy a turnkey neurology franchise.

Potential suitors include large pharmaceutical companies with an existing footprint in neurology and immunology, such as Sanofi, which has a history of big MS drugs such as Aubagio and Lemtrada; Novartis, the maker of competing MS drugs Kesimpta and Gilenya; and Biogen, a dominant player in the MS space.

WILMINGTON, Del.--(BUSINESS WIRE)---- $INCY--Incyte Completes Acquisition of Vega Therapeutics, a Wholly Owned Subsidiary of Star Therapeutics, Expanding its Hematology Portfolio.

Incyte shares hit a 52-week high as Opzelura gains regulatory momentum, pipeline advances and a CMS settlement boosts investor sentiment.

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in INCY over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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MORGES, Switzerland--(BUSINESS WIRE)---- $INCY--Incyte Announces Positive CHMP Opinion for Opzelura® (ruxolitinib) Cream for the Treatment of Adults with Moderate Atopic Dermatitis.

WILMINGTON, Del.--(BUSINESS WIRE)---- $INCY--Incyte Japan Announces Approval of Minjuvi (tafasitamab) in Combination with Lenalidomide for Adults with Relapsed or Refractory DLBCL.