WASHINGTON (dpa-AFX) - Incyte Corp. (INCY), a biopharmaceutical company, Thursday reported a third-quarter loss compared with a profit a year earlier, primarily due to a one-time research and development expense related to its acquisition of Vega Therapeutics. The company raised its full-year net sales outlook on continued strong performance across its product portfolio.
Incyte posted a net loss of $784.80 million, or $3.86 per share, compared with net income of $424.17 million, or $2.11 per share, a year earlier. Excluding one-time items, loss was $730.80 million, or $3.60 per share.
Operating loss was $708.36 million compared with profit of $443.52 million.
Research and development expenses increased to $1.792 billion from $506.58 million, reflecting a one-time $1.23 billion in-process research and development expense associated with the July 2026 acquisition of Vega Therapeutics.
Total revenue rose 14% to $1.566 billion from $1.366 billion a year earlier. Net sales also increased 14% to $1.32 billion, driven by higher demand across marketed products.
For full-year 2026, Incyte raised its net sales outlook to $5.210 billion to $5.300 billion from its previous forecast of $5.130 billion to $5.260 billion. The company reaffirmed its guidance for all other categories.
In pre-market trading on the Nasdaq, Incyte shares were down 0.15% after closing at $116.87 on Wednesday.
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