因塞特医疗 2025年季度报告

(Mark One) xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the quarterly period endedJune30, 2025or oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 INCYTE CORPORATION (Exact name of registrant as specified in its charter) (302)498-6700(Registrant’s telephone number, including area code)Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to suchfiling requirements for the past 90 days.xYesoNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles).xYesoNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, oran emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Large accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).oYesxNo INCYTE CORPORATION INDEX PART I: FINANCIAL INFORMATION Item 1.Financial Statements3Condensed Consolidated Balance Sheets3Condensed Consolidated Statements of Operations4Condensed Consolidated Statements of Comprehensive Income5Condensed Consolidated Statements of Stockholders’ Equity6Condensed Consolidated Statements of Cash Flows8Notes to Condensed Consolidated Financial Statements9Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations29Forward-Looking Statements29Summary Risk Factors32Item 3.Quantitative and Qualitative Disclosures about Market Risk57Item 4.Controls and Procedures58PART II: OTHER INFORMATIONItem 1.Legal Proceedings58Item 1A.Risk Factors58Item 5.Other Information86Item 6.Exhibits87Signatures88 INCYTE CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETS(in thousands, except number of shares and par value) See accompanying notes. INCYTE CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(unaudited, in thousands) INCYTE CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (CONTINUED)(unaudited, in thousands, except number of shares) INCYTE CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(unaudited, in thousands) INCYTE CORPORATIONNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTSJune30, 2025(Unaudited) Note 1. Organization and Business Incyte Corporation (including its subsidiaries, “Incyte,” “we,” “us,” or “our”) is a biopharmaceutical company focused ondeveloping and commercializing proprietary therapeutics. Our portfolio includes compounds in various stages, ranging from preclinical tolate stage development, and commercialized products JAKAFI® (ruxolitinib), ICLUSIG® (ponatinib), PEMAZYRE® (pemigatinib),OPZELURA® (ruxolitinib cream),MINJUVI® (tafasitamab), MONJUVI® (tafasitamab-cxix) and ZYNYZ® (retifanlimab-dlwr), as wellas NIKTIMVO™ (axatilimab-csfr), which is co-commercialized. Our operations are treated asoneoperating segment. Note 2. Summary of Significant Accounting Policies Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accountingprinciples generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 10of Regulation S-X. The condensed consolidated balance sheet as of June30, 2025, the condensed consolidated statements of operations,comprehensive income (loss), and stockholders’ equity for the three and six months ended June30, 2025 and 2024, and the condensedconsolidated statements of cash flows for the six months ended June30, 2025 and 2024, are unaudited, but include all adjustments,consisting only of normal recurring adjustments, which we consider necessary for a fair presentation of the financial position, operatingresults and cash flows for the periods presented. The condensed consolidated balance sheet at December31, 2024 has been derived fromour audited consolidated financial statements. Although we believe that the disclosures in these financial statements are adequate to make the information presented notmisleading, cert