Shares of Incyte Corporation (NASDAQ:INCY) climbed 2.5% on Tuesday after the company posted better-than-expected third-quarter 2025 results and raised its full-year guidance.
The biopharmaceutical group reported adjusted earnings of $2.26 per share, well above the analyst consensus of $1.59. Total revenue rose 20% year over year to $1.37 billion, surpassing the $1.25 billion Wall Street estimate. Net product revenue increased 19% to $1.15 billion, reflecting broad-based demand strength across its product portfolio.
Its flagship therapy, Jakafi (ruxolitinib), used for myeloproliferative disorders and graft-versus-host disease, generated $791 million in sales, up 7% year over year. Opzelura (ruxolitinib cream) revenue jumped 35% to $188 million. Meanwhile, the hematology-oncology segment contributed $171 million, including $46 million from the recently launched Niktimvo.
“Our third-quarter results demonstrate strong growth across our product portfolio, with net product revenues increasing 19% year-over-year, which highlights the momentum in our business and effective commercial execution,” said Bill Meury, President and CEO of Incyte.
Given the solid performance, Incyte raised its 2025 net product revenue guidance to $4.23–$4.32 billion from $4.13–$4.24 billion. It increased its Jakafi forecast to $3.05–$3.075 billion and oncology product guidance to $550–$575 million, while maintaining its Opzelura outlook at $630–$670 million.
The company ended the quarter with $2.9 billion in cash, cash equivalents, and marketable securities as of September 30, up from $2.2 billion at the end of 2024.
Incyte also highlighted pipeline progress, noting plans to submit ruxolitinib extended-release bioequivalence data to the FDA in the fourth quarter and to advance multiple oncology and inflammation clinical trials.