Incyte beats by $0.46, beats on revs; guides FY18; initial ECHO-301 data out in 1H18 (88.17)
- Reports Q4 (Dec) earnings of $0.02 per share, excluding non-recurring items, $0.46 better than the Capital IQ Consensus of ($0.44); revenues rose 36.0% year/year to $444.2 mln vs the $435.23 mln Capital IQ Consensus. Jakafi (ruxolitinib) revenues $302 million (+27%) in Q4 2017.
- Sees GAAP and Non-GAAP Jakafi net product revenues $1,350 - $1,400 million; GAAP and Non-GAAP Iclusig net product revenues $80 - $85 million.
- The pivotal REACH1 trial evaluating ruxolitinib in patients with steroid-refractory acute graft-versus-host disease (GVHD) has completed enrollment and results are expected in the first half of 2018. If successful, Incyte expects to submit an sNDA seeking approval of ruxolitinib in this indication.
- Initial results, based on progression-free survival, from the pivotal ECHO-301 trial of epacadostat plus pembrolizumab in patients with unresectable or metastatic melanoma are expected in the first half of 2018. In collaboration with both Merck and Bristol-Myers Squibb, we have recently opened eight new pivotal trials of epacadostat plus PD-1 antagonists.
- Initial data from the trial evaluating INCB54828 in patients with cholangiocarcinoma are expected in 2018.