Incyte Corp Files 2024 10-K
Ticker: INCY · Form: 10-K · Filed: Feb 10, 2025 · CIK: 879169
Sentiment: neutral
Topics: 10-K, annual-report, financials
TL;DR
Incyte's 2024 10-K is in, check financials for the year ending Dec 31, 2024.
AI Summary
Incyte Corporation filed its 2024 10-K on February 10, 2025, reporting on its fiscal year ending December 31, 2024. The company, headquartered in Wilmington, Delaware, operates in the commercial physical & biological research sector. This filing provides a comprehensive overview of Incyte's financial performance and business operations for the past fiscal year.
Why It Matters
This 10-K filing is crucial for investors and analysts to understand Incyte's financial health, strategic direction, and potential risks for the upcoming year.
Risk Assessment
Risk Level: medium — 10-K filings inherently carry medium risk due to the detailed financial and operational information that can impact stock valuation.
Key Numbers
- 2024 — Fiscal Year (Reporting period for the 10-K)
- 1231 — Fiscal Year End (Indicates the end of the reporting period)
Key Players & Entities
- Incyte Corp (company) — Filer of the 10-K
- Wilmington, DE (location) — Company headquarters
- 2024-12-31 (date) — Fiscal year end
- 2025-02-10 (date) — Filing date
FAQ
What is the primary business of Incyte Corporation?
Incyte Corporation is primarily involved in the commercial physical & biological research sector, as indicated by its SIC code 8731.
When did Incyte Corporation file its 10-K for the fiscal year 2024?
Incyte Corporation filed its 10-K for the fiscal year 2024 on February 10, 2025.
Where is Incyte Corporation headquartered?
Incyte Corporation is headquartered in Wilmington, Delaware.
What is the SEC file number for Incyte Corporation?
The SEC file number for Incyte Corporation is 001-12400.
What was the previous name of Incyte Corporation?
Incyte Corporation was formerly known as Incyte Genomics Inc. and Incyte Pharmaceuticals Inc.
Filing Stats: 4,379 words · 18 min read · ~15 pages · Grade level 17.9 · Accepted 2025-02-10 16:01:48
Filing Documents
- incy-20241231.htm (10-K) — 2243KB
- exhibit191-incyinsidertrad.htm (EX-19.1) — 53KB
- exhibit211-12312024.htm (EX-21.1) — 19KB
- exhibit231-12312024.htm (EX-23.1) — 5KB
- exhibit311-12312024.htm (EX-31.1) — 10KB
- exhibit312-12312024.htm (EX-31.2) — 10KB
- exhibit321-12312024.htm (EX-32.1) — 5KB
- exhibit322-12312024.htm (EX-32.2) — 5KB
- 0001628280-25-004633.txt ( ) — 12304KB
- incy-20241231.xsd (EX-101.SCH) — 85KB
- incy-20241231_cal.xml (EX-101.CAL) — 121KB
- incy-20241231_def.xml (EX-101.DEF) — 470KB
- incy-20241231_lab.xml (EX-101.LAB) — 1070KB
- incy-20241231_pre.xml (EX-101.PRE) — 803KB
- incy-20241231_htm.xml (XML) — 1676KB
Forward-Looking Statements
Forward-Looking Statements 2 Summary Risk Factors 5 PART I Item 1.
Business
Business 6 Item 1A.
Risk Factors
Risk Factors 36 Item 1B. Unresolved Staff Comments 64 Item 1C. Cybersecurity 64 Item 2.
Properties
Properties 65 Item 3.
Legal Proceedings
Legal Proceedings 65 Item 4. Mine Safety Disclosures 65 Information about our Executive Officers 65 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 68 Item 6. [ Reserved ] 68 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 68 Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 78 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 79 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 121 Item 9A.
Controls and Procedures
Controls and Procedures 122 Item 9B. Other Information 124 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 124 PART III Item 10. Directors, Executive Officers and Corporate Governance 124 Item 11.
Executive Compensation
Executive Compensation 125 Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 125 Item 13. Certain Relationships and Related Transactions, and Director Independence 125 Item 14. Principal Accountant Fees and Services 125 PART IV Item 15. Exhibits, Financial Statement Schedules 125 Item 16. Form 10-K Summary 129
SIGNATURES
SIGNATURES 129 1 Table of Contents
Forward-Looking Statements
Forward-Looking Statements This report contains forward-looking statements that involve risks and uncertainties. These statements relate to future periods, future events or our future operating or financial plans or performance. Often, these statements include the words "believe," "expect," "target," "anticipate," "intend," "plan," "seek," "estimate," "potential," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," "might," or "may," or the negative of these terms, and other similar expressions. These forward-looking statements include statements as to: the discovery, development, formulation, manufacturing and commercialization of our compounds, our drug candidates and JAKAFI /JAKAVI (ruxolitinib), PEMAZYRE (pemigatinib), ICLUSIG (ponatinib), MONJUVI (tafasitamab-cxix) / MINJUVI (tafasitamab), OPZELURA (ruxolitinib) cream, ZYNYZ (retifanlimab-dlwr) and NIKTIMVO TM (axatilimab); our plans to further develop our operations outside of the United States; conducting clinical trials internally, with collaborators, or with clinical research organizations; our collaboration and strategic relationship strategy, and anticipated benefits and disadvantages of entering into collaboration agreements; our licensing, investment and commercialization strategies, including our plans to commercialize our drug products and drug candidates; the regulatory approval process, including obtaining U.S. Food and Drug Administration and other international regulatory authorities' approval for our products in the United States and abroad; the safety, effectiveness and potential benefits and indications of our drug candidates and other compounds under development; the timing and size of our clinical trials; the compounds expected to enter clinical trials; timing of clinical trial results; our ability to manage expansion of our drug discovery and development operations; future required expertise relating to clinical trials, manufactu
Business
Item 1. Business Overview Incyte is a global biopharmaceutical company engaged in the discovery, development and commercialization of proprietary therapeutics. Our global headquarters is located in Wilmington, Delaware, where we conduct discovery, clinical development and commercial operations. We also conduct clinical development and commercial operations from our European headquarters in Morges, Switzerland and our other offices across Europe, as well as our Japanese office in Tokyo and our Canadian headquarters in Montreal. We are focused in two therapeutic areas that are defined by the indications of our approved medicines and the diseases for which our clinical candidates are being developed. One therapeutic area is Hematology/Oncology, which comprises Myeloproliferative Neoplasms (MPNs), Graft-Versus-Host Disease (GVHD), solid tumors and hematologic malignancies. The other therapeutic area is Inflammation and Autoimmunity (IAI), which includes our Dermatology commercial franchise. We are also eligible to receive milestones and royalties on molecules discovered by us and licensed to third parties. Hematology and Oncology Our hematology and oncology franchise comprises six approved products, which are JAKAFI (ruxolitinib), MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab), PEMAZYRE (pemigatinib), ICLUSIG (ponatinib), ZYNYZ (retifanlimab-dlwr), and NIKTIMVO (axatilimab-csfr), as well as numerous clinical development programs. JAKAFI (ruxolitinib) JAKAFI (ruxolitinib) is our first product to be approved for sale in the United States. It was approved by the U.S. Food and Drug Administration (FDA) in November 2011 for the treatment of adults with intermediate or high-risk myelofibrosis (MF); in December 2014 for the treatment of adults with polycythemia vera (PV) who have had an inadequate response to or are intolerant of hydroxyurea; in May 2019 for the treatment of steroid-refractory acute graft-versus-host disease (GVHD) in adult and pediatric patients 12 y