Incyte Corp., of Wilmington, Del., reported total product and royalty revenues of $569 million for the first quarter of 2020, up 24% over the same period in 2019, with revenues from JAK inhibitor Jakafi (ruxolitinib) totaling $459 million. Total GAAP net loss for the quarter was $720,642, or $3.33 per basic earnings per share (EPS), while non-GAAP net loss was $618,920, or $2.86 basic EPS. Looking ahead in 2020, CEO Hervé Hoppenot said he expects a “transformational year,” for Incyte, which saw FDA approval of Pemazyre (pemigatinib) for adults with previously treated, unresectable locally advanced or metastatic cholangiocarcinoma last month, and has pending FDA submissions for capmatinib in non-small-cell lung cancer and Martinsried, Germany-based Morphosys AG-partnered tafasitamab for B-cell lymphoma. As of March 31, the company had about $1.3 billion in cash, equivalents and marketable securities. Shares of Incyte (NASDAQ:INCY) closed May 5 at $98.82, down $2.17.
Karyopharm Therapeutics Inc., of Newton, Mass., reported first-quarter sales of multiple myeloma drug Xpovio (selinexor) totaling $16.1 million. As of March 31, more than 2,200 prescriptions had been filled since the drug launched following its approval in July 2019, the company said. The drug is under review in Europe for multiple myeloma, while a supplemental NDA is pending review at the FDA aiming to expand use in the U.S. to include relapsed or refractory diffuse large B-cell lymphoma. Karyopharm posted total revenues of $18.1 million for the first quarter. Its net loss was $52.9 million, or 78 cents per share, and the firm ended the quarter with $385.2 million on its balance sheet, which included proceeds from a public offering netting about $161.8 million in early March. Shares of Karyopharm (NASDAQ:KPTI) closed May 5 at $19.63, down $1.05.
Regeneron Pharmaceuticals Inc., of Tarrytown, N.Y., reported first-quarter 2020 revenue totaling $1.83 billion, up 33% over the first quarter of 2019. Sales of VEGF-targeting ophthalmic drug Eylea (aflibercept) increased 9% over the same period last year to $1.17 billion, while sales of Dupixent (dupilumab), approved for allergic diseases, increased 129% to $855 million, as reported by partner Sanofi SA, of Paris. GAAP net income for the quarter was $625 million, or $5.43 per share, while non-GAAP net income was $771 million, or $6.60 per share. As of March 31, Regeneron’s cash and marketable securities totaled about $7.2 billion. Its shares (NASDAQ:REGN) closed May 5 at $574.37, up $32.55.