Incyte : Q3 2024 Financial and Corporate Update Presentation
INCY
2024 Third Quarter Financial and Corporate Update
October 29, 2024
Third Quarter 2024 Earnings Call Agenda
Introduction
Key Highlights &
Commercial Review
R&D Update
Financial Review
Available for Q&A
Ben Strain
Head of Investor Relations
Hervé Hoppenot
Chief Executive Officer
Pablo Cagnoni
President, Head of Research & Development
Christiana Stamoulis
Chief Financial Officer
Barry Flannelly
General Manager, North America Oncology
Matteo Trotta
General Manager, U.S. Dermatology
Steven Stein
Chief Medical Officer
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Forward Looking Statements
Except for the historical information set forth herein, the matters set forth in this presentation contain predictions, estimates and other forward-looking statements, including any discussion of the following: Incyte's potential for continued performance and growth; Incyte's financial guidance for 2024, including its expectations regarding sales of Jakafi; expectations regarding demand for and sales of Opzelura, among other products; expectations regarding reimbursement for Opzelura in Europe; expectations regarding the potential and progress of our pipeline, including expectations for ruxolitinib cream, ruxolitinib extended-release (XR), povorcitinib, INCB000262, INCB000547, axatilimab, mCALR, JAK2V617Fi, retifanlimab, tafasitamab, INCB123667, BETi, zilurgisertib, KRASG12D and our TGFβ program; Incyte's ability to develop new transformative therapies to treat myeloid disease and cure MPNs; expectations regarding ongoing clinical trials and clinical trials to be initiated; expectations regarding data flow/readouts; expectations regarding regulatory filings, potential regulatory approvals and potential product launches; and expectations regarding 2024 newsflow items.
These forward-looking statements are based on Incyte's current expectations and subject to risks and uncertainties that may cause actual results to differ materially,
including unanticipated developments in and risks related to: further research and development and the possibility that results of clinical trials will be negative and/or
insufficient to meet applicable regulatory standards or warrant continued development; the ability to enroll sufficient numbers of subjects in clinical trials and the ability to enroll subjects in accordance with planned schedules; determinations made by FDA, EMA, and other regulatory agencies; Incyte's dependence on its relationships with and changes in the plans of its collaboration partners; the efficacy or safety of Incyte's products and the products of Incyte's collaboration partners; the acceptance of Incyte's products and the products of Incyte's collaboration partners in the marketplace; market competition; unexpected variations in the supply of and/or demand for Incyte's products and the products of Incyte's collaboration partners; the effects of announced or unexpected price regulation or limitations on reimbursement or coverage for Incyte's products and the products of Incyte's collaboration partners; sales, marketing, manufacturing and distribution requirements, including Incyte's and its collaboration partners' ability to successfully commercialize and build commercial infrastructure for newly approved products and any additional products that become
approved; greater than expected expenses, including expenses relating to litigation or strategic activities; variations in foreign currency exchange rates; and other risks detailed in Incyte's reports filed with the Securities and Exchange Commission, including its quarterly report on form 10-Q for the quarter ended June 30, 2024. Incyte disclaims any intent or obligation to update these forward-looking statements.
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Third Quarter 2024
Hervé Hoppenot, Chief Executive Officer
Significant Progress Across Commercial Portfolio and
Clinical Pipeline
Total Revenues
(in Millions)
Jakafi Opzelura Other Heme/Onc Other Revenues 1
+24%
1,200
1,000
800
600
400
200
0
Q3'20
Q3'21
Q3'22
Q3'23
Q3'24
Third Quarter 2024
Highlights
✓ Niktimvo (Axatilimab-csfr) approved in the U.S.
1. Includes product royalty revenues, milestone and contract revenues
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Jakafi
Strong patient demand seen through the first three quarters of 2024
Q3'24 net sales: $741m (+16% Y/Y)
Total Patients on Jakafi by Indication
Paid demand grew 10% Y/Y
Third quarter dynamics:
Raising FY'24 guidance to a new range of
$2.74 to $2.77 billion
+8%
+4%
+12%
+8%
MF: 40%
PV: 35%
GVHD: 17%
Other: 7%
Q3'20 Q3'21 Q3'22 Q3'23 Q3'24
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Jakafi Continues to Grow, Driven by PV
Total Paid Demand
MF Paid Demand
4.6K
1.8K
3.0K
1.0K
Jan
Feb
Mar
Apr
May
June
July
Aug
Sep
Jan
Feb
Mar
Apr
May
June
July
Aug
Sep
PV Paid Demand
GVHD Paid Demand
1.7K
0.7K
0.8K
0.3K
Jan
Feb
Mar
Apr
May
June
July
Aug
Sep
Jan
Feb
Mar
Apr
May
June
July
Aug
Sep
Source: Data on file
2024
2023
2022
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Opzelura Growth Driven by US Demand and EU Launch
Q3'24 net sales: $139m (+52% Y/Y)
U.S. net sales: $119m in Q3'24 (+35% Y/Y)
Ex-U.S. net sales: $20m in Q3'24
U.S. Opzelura TRx
(Weekly by Year)
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2024 2023 2022
TRx = Total prescriptions
(Source: IQVIA NPA Market Dynamics 10/8/21- 10/18/24)
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Revenue Contribution from Expected Near-Term Launches
Three new products/indications represent potential for $800 million+ incremental revenues by 2029
Niktimvo
For 3L+ chronic GVHD
Tafasitamab
For relapsed or refractory FL
Retifanlimab
For advanced SCAC
~6,000
~23,000
~8,000
(Treated 3L+ patients in U.S.)
(R/R FL patients in U.S. / E.U.)
(Advanced/metastatic SCAC patients in U.S. / E.U.)
Pipeline with Near and Long-Term Potential to Drive Growth
Revenues
2025
2026-2027
2027-2030
mCALR
MRGPRX2
KRASG12D
JAK2V617Fi
TGFßR2×PD-1
MRGPRX4
BETi
Zilurgisertib
Povorcitinib
CDK2i
Ruxolitinib XR
Tafasitamab (1L DLBCL)
Tafasitamab (FL)
Niktimvo (3L cGVHD)
Retifanlimab (SCAC)
Time
Potential U.S. approval range and U.S addressable market size
< $1 billion
$1-3 billion
>$3 billion
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Disclaimer
Incyte Corporation published this content on October 29, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on October 29, 2024 at 12:03:23.915.