Incyte — Oct 29, 2024 release

In addition, Incyte is updating the full year research and development guidance to include the $100 million milestone payment to MacroGenics. The full year GAAP and Non-GAAP research and development guidance now includes $791 million in one-time expenses related to the $691 million of upfront consideration recorded for the acquisition of Escient Pharmaceuticals and the $100 million milestone payment to MacroGenics. Incyte is also maintaining its full year 2024 cost of product revenue and selling general and administrative guidance. Incyte’s guidance is summarized below. The guidance does not include revenue from any potential new product launches or the impact of one-time items and any potential future strategic transactions. Current Previous Jakafi net product revenues $2,740 - $2,770 million $2,710 - $2,750 million Other Hematology/Oncology net product revenues (1) $310 - $320 million $325 - $360 million GAAP Cost of product revenues Unchanged 7 – 8% of net product revenues Non-GAAP Cost of product revenues (2) Unchanged 6 – 7% of net product revenues GAAP Research and development expenses $2,545 - $2,590 million $2,445 - $2,490 million Non-GAAP Research and development expenses (3) $2,395 - $2,435 million $2,295 - $2,335 million GAAP Selling, general and administrative expenses Unchanged $1,210 - $1,240 million Non-GAAP Selling, general and administrative expenses (3) Unchanged $1,115 - $1,140 million 1 Pem