Incyte Slips To Loss In Q1, Despite Higher Revenues - Quick Facts

(RTTNews) - Incyte Corp. (INCY) on Tuesday reported a net loss for the first quarter of $720.64 million or $3.33 per share, compared to net income of $102.31 million or $0.47 per share in the prior-year quarter.

Adjusted net loss for the quarter was $2.86 per share, compared to $0.62 per share in the year-ago quarter.

Total revenues for the quarter rose to $568.51 million from $497.86 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.61 per share on revenues of $556.04 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2020, Incyte maintained its outlook for Jakafi net product revenue in the range of $1.88 billion to $1.95 billion.

In addition, the company affirmed its outlook for fiscal 2020 Iclusig net product revenues in a range of $100 million to $105 million.