Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
One drug purchase turned a profitable quarter into a loss
The cost of buying an unapproved drug went straight into research expense, so a growing business reported an operating loss.
For investorsWhat must go right for Incyte's revenue beyond Jakafi
For foundersBuilding a product family from one discovery
Paid demand rose 12% while sales rose 4.5%, so the largest product is now growing on volume, not price.
Opzelura grew 35.6% on volume and price, while Jakafi's share of revenue fell 4.8 points.
Ruxolitinib reaches patients as JAKAFI, as JAKAVI through Novartis and as the OPZELURA cream, reusing discovery work already paid for.
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Business Lens describes Incyte from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
