Jakafi Launch Going Smoothly, But Incyte Confuses Investors

Incyte reported its second quarter results Aug. 2, but failed to communicate its intentions clearly regarding a shift in accounting.

Incyte Corp. created confusion for investors when the biotech announced during its second quarter conference call that it will be shifting the way it records revenues for its recently launched JAK inhibitor, pushing the stock down. Yet, analysts agree that recently issued guidance for the myelofibrosis drug indicates the launch is doing well and that growth within the market is expected.

Incyte said Aug. 2 that Jakafi (ruxolitinib) brought in sales of $29.7 million in the second quarter. The company currently...

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