The Delaware-based drugmaker posted net income of $299.3 million, or $1.46 per share, a substantial increase from the $201.2 million recorded during the same period last year. On an adjusted basis, Incyte earned $1.80 per share. Although this marked year-over-year growth, the figure missed the $1.90 per share average analyst estimate compiled by FactSet.

Total revenue climbed 28% to $1.51 billion, outperforming the $1.36 billion projected by analysts. This growth was anchored by Jakafi, a treatment for blood and bone-marrow cancers, which saw sales rise 7% to $828.2 million. Meanwhile, the company’s dermatology segment showed significant momentum; sales of the prescription skin cream Opzelura jumped 28% to reach $207.3 million.

Pipeline and 2026 Projections

Looking ahead, Incyte issued a mid-term forecast projecting 2026 net product revenue between $4.77 billion and $4.94 billion. This outlook assumes Jakafi will contribute between $3.22 billion and $3.27 billion to the total. The company also signaled an expansion of its portfolio, with plans to submit a commercialization application for povorcitinib to the Food and Drug Administration in the first quarter for the treatment of a chronic skin condition.