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INCY (Incyte Corp.) stock: $119.65, $24.39B market cap, $3.85B cash, $20.53B EV, $26.45B fully diluted market cap. Lead program: tafasitamab (Follicular Lymphoma), Phase 3. Data from Fully Diluted's biotech stocks database.
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 headquarters in Tokyo and our Canadian headquarters in Montreal.
Source: 10-K FY2025 via SEC EDGAR
| Cash | $3,854.6M |
|---|---|
| Debt | $0.0M |
| Net cash | $3,854.6M |
| Enterprise value | $20,534.0M |
| Basic shares | 203.8M shares |
| Fully diluted shares | 221.1M shares |
| Fully diluted market cap | $26,453.0M |
| Cash per share | $18.91 |
| Quarterly burn | $173.6M |
| Cash runway | 26.1 quarters |
Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.
Cap table as of 2026-07-21.
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Tafasitamab · Now - Nov 24, 2026 Now · Phase 3 · Diffuse Large B-cell Lymphoma
| Expected | Drug | Phase | Indication | Mgmt guide |
|---|---|---|---|---|
| Now - Nov 24, 2026 Now | Tafasitamab | Phase 3 | Diffuse Large B-cell Lymphoma | — |
| Now - Nov 26, 2026 Now | Povorcitinib | Phase 1 | Healthy Participants | — |
| Nov 9 - Dec 21 in 2d | INCB099280 | Phase 2 | Cutaneous Squamous Cell Carcinoma | — |
| Nov 11 - Dec 23 in 4d | INCB099280 | Phase 2 | Advanced Solid Tumor | — |
| Nov 20, 2026 - Jan 1, 2027 in 13d | Ruxolitinib Cream | Phase 3 | Hidradenitis Suppurativa | Q4 2026 Est. Nov 20, 2026 · PCD + 6 wks (Nov 7-Dec 4) |
| Nov 20, 2026 - Jan 1, 2027 in 13d | Ruxolitinib Cream | Phase 3 | Hidradenitis Suppurativa | Q4 2026 Est. Nov 20, 2026 · PCD + 6 wks (Nov 7-Dec 4) |
| Nov 26, 2026 - Jan 7, 2027 in 19d | INCB161734 | Phase 1 | Healthy Participants | — |
| Nov 30, 2026 - Jan 11, 2027 in 23d | Povorcitinib | Phase 3 | Prurigo Nodularis | — |
| Nov 30, 2026 - Jan 11, 2027 in 23d | Povorcitinib | Phase 3 | Prurigo Nodularis | — |
| Nov 30, 2026 - Jan 11, 2027 in 23d | INCA033989 | Phase 1 | Healthy Participants | — |
| Dec 17, 2026 - Jan 28, 2027 in 6 wks | Parsaclisib | Phase 2 | B-Cell Malignancies | — |
| Jan 1 - Feb 12 in 8 wks | povorcitinib | Phase 2 | Moderate to Severe Asthma | — |
| Jan 20 - Mar 3 in 11 wks | Ruxolitinib Cream | Phase 1 | Hidradenitis Suppurativa | — |
| Feb 6 - Mar 20 in 13 wks | Povorcitinib | Phase 3 | Hidradenitis Suppurativa (HS) | — |
| Feb 12 - Mar 26 in 14 wks | INCB161734 | Phase 1 | Solid Tumors | — |
| Feb 15 - Mar 29 in 14 wks | INCB123667 | Phase 1 | Renal Impairment | — |
| Feb 17 - Mar 31 in 15 wks | INCA034176 | Phase 2 | Chronic Graft-versus-host-disease | — |
| May 8 - Jun 19 in 6 mo | INCB186748 | Phase 1 | Solid Tumors | — |
| May 25 - Jul 6 in 7 mo | INCB123667 | Phase 1 | Hepatic Insufficiency; Liver Diseases | — |
| Jun 8 - Jul 20 in 7 mo | INCB123667 | Phase 2 | Ovarian Cancer | — |
| Jun 11 - Jul 23 in 7 mo | Ruxolitinib Cream | Phase 3 | NonSegmental Vitiligo | — |
| Jun 11 - Jul 23 in 7 mo | INCB057643 | Phase 1 | Myelofibrosis; Myelodysplastic Syndrome; Myelodysplastic/Myeloproliferative Neoplasm Overlap Syndrome | — |
| Jul 13 - Aug 24 in 8 mo | Axatilimab | Phase 2 | Chronic Graft-versus-host-disease | — |
| Jul 13 - Aug 24 in 8 mo | Retifanlimab | Phase 2 | Glioma; IDH Mutation; Astrocytoma | — |
| Jul 13 - Aug 24 in 8 mo | Ruxolitinib | Phase 2 | Leukemia; Myelodysplasia; Chronic Myelomonocytic Leukemia | — |
| Aug 11 - Sep 22 in 9 mo | Pemigatinib | Phase 2 | Solid Tumor, Miscellaneous | — |
| Sep 7 - Oct 19 in 10 mo | INCB0123667 | Phase 1 | Solid Tumors | — |
| Sep 10 - Oct 22 in 10 mo | INCB000928 | Phase 2 | Fibrodysplasia Ossificans Progressiva (FOP) | — |
| Oct 10 - Nov 21 in 11 mo | Tafasitamab | Phase 2 | Hematologic Malignancies | — |
| Nov 4 - Dec 16 in 12 mo | INCA000585 | Phase 2 | Immune Thrombocytopenia | — |
| Nov 9 - Dec 21 in 12 mo | INCA034176 | Phase 3 | Chronic Graft-versus-host-disease | — |
| Nov 11 - Dec 23 in 12 mo | Ruxolitinib | Phase 2 | Pancreatic Cancer; Colorectal Cancer (CRC); Breast Cancer | — |
| Jan 12 - Feb 23 in 14 mo | Allogeneic NK cells | Phase 1 | Non Hodgkin Lymphoma; B-cell Non Hodgkin Lymphoma; Diffuse Large B Cell Lymphoma | — |
| Mar 14 - Apr 25 in 16 mo | Ponatinib | Phase 2 | Acute Myeloid Leukemia; Accelerated Phase Chronic Myeloid Leukemia; Blast Phase Chronic Myeloid Leukemia | — |
| Apr 10 - May 22 in 17 mo | povorcitinib | Phase 3 | Hidradenitis Suppurativa (HS) | — |
| Apr 11 - May 23 in 17 mo | INCA033989 | Phase 1 | Myeloproliferative Neoplasms | — |
| Apr 25 - Jun 6 in 18 mo | INCA035784 | Phase 1 | Myeloproliferative Neoplasms | — |
| May 6 - Jun 17 in 18 mo | Povorcitinib | Phase 2 | Hidradenitis Suppurativa (HS) | — |
| Jun 12 - Jul 24 in 19 mo | Zanubrutinib | Phase 2 | Mantle Cell Lymphoma | — |
| Jul 12 - Aug 23 in 20 mo | INCA034176 | Phase 3 | Chronic Graft-versus-host-disease | — |
| Jul 17 - Aug 28 in 21 mo | Ruxolitinib Cream | Phase 3 | NonSegmental Vitiligo | — |
| Sep 29 - Nov 10 in 23 mo | INCA036873 | Phase 1 | Solid Tumors; Hematologic Malignancies | — |
| Oct 27 - Dec 8 in 24 mo | INCB161734 | Phase 3 | Solid Tumors | — |
| Nov 20, 2028 - Jan 1, 2029 in 25 mo | INCB160058 | Phase 1 | Myeloproliferative Neoplasms | — |
| Dec 10, 2028 - Jan 21, 2029 in 25 mo | INCA033989 | Phase 1 | Myeloproliferative Neoplasms | — |
| Dec 27, 2028 - Feb 7, 2029 in 26 mo | INCB123667 | Phase 3 | Ovarian Cancer | — |
| Feb 9 - Mar 23 in 28 mo | INCA33890 | Phase 3 | CRC (Colorectal Cancer) | — |
| Feb 11 - Mar 25 in 28 mo | Ruxolitinib | Phase 2 | Hemophagocytic Lymphohistiocytoses | — |
| Feb 12 - Mar 26 in 28 mo | Fostamatinib | Phase 1 | Chronic Graft Versus Host Disease | — |
| Mar 14 - Apr 25 in 29 mo | INCA034176 | Phase 2 | Chronic Graft-versus-host-disease | — |
| Jun 14 - Jul 26 in 32 mo | INCA33890 | Phase 1 | Solid Tumors; Advanced Solid Tumors; Metastatic Solid Tumors | — |
| Jul 27 - Sep 7 in 33 mo | INCA033989 | Phase 3 | Essential Thrombocythemia | — |
| Sep 12 - Oct 24 in 35 mo | Decitabine | Phase 1 | Acute Myeloid Leukemia; TP53 Gene Mutation | — |
| Jan 12 - Feb 23 in 39 mo | Brigatinib | Phase 2 | Neurofibromatosis Type 2; Vestibular Schwannoma; Non-vestibular Schwannoma | — |
| Jul 5 - Aug 16 in 45 mo | INCA036978 | Phase 1 | Myeloproliferative Neoplasms | — |
| Feb 28 - Apr 11 in 52 mo | Tacrolimus (Tac) | Phase 3 | Graft-versus-host Disease (GVHD) | — |
| Jan 12 - Feb 23 in 63 mo | Epcoritamab | Phase 2 | Large B Cell Lymphoma | — |
| Jun 12 - Jul 24 in 68 mo | INCB123667 | Phase 3 | Ovarian Cancer | — |
Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
Per-asset detail extracted from the 10-Q filed 2026-07-28. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.
| Lead drug | tafasitamab |
|---|---|
| Lead indication | Follicular Lymphoma |
| Lead phase | Phase 3 |
| Active trials | 62 |
| Collaborator trials | 100 |
| Trial | Phase | Status | Role | Sponsor | BP | Condition(s) | Mgmt guide |
|---|---|---|---|---|---|---|---|
| NCT06958211 | Phase 3 | Active, not recruiting | Sponsor | INCY | — | Hidradenitis Suppurativa | Q4 2026 Est. Nov 20, 2026 · PCD + 6 wks (Nov 7-Dec 4) |
| NCT06959225 | Phase 3 | Active, not recruiting | Sponsor | INCY | — | Hidradenitis Suppurativa | Q4 2026 Est. Nov 20, 2026 · PCD + 6 wks (Nov 7-Dec 4) |
| NCT06516952 | Phase 3 | Active, not recruiting | Sponsor | INCY | — | Prurigo Nodularis | — |
| NCT06516965 | Phase 3 | Active, not recruiting | Sponsor | INCY | — | Prurigo Nodularis | — |
| NCT06212999 | Phase 3 | Active, not recruiting | Sponsor | INCY | — | Hidradenitis Suppurativa (HS) | — |
| NCT06804811 | Phase 3 | Recruiting | Sponsor | INCY | — | NonSegmental Vitiligo | — |
| NCT06585774 | Phase 3 | Recruiting | Sponsor | INCY | — | Chronic Graft-versus-host-disease | — |
| NCT06855498 | Phase 3 | Recruiting | Sponsor | INCY | — | Hidradenitis Suppurativa (HS) | — |
| NCT06821542 | Phase 3 | Active, not recruiting | Sponsor | INCY | — | Chronic Graft-versus-host-disease | — |
| NCT06548360 | Phase 3 | Recruiting | Sponsor | INCY | — | NonSegmental Vitiligo | — |
| NCT07522073 | Phase 3 | Recruiting | Sponsor | INCY | — | Solid Tumors | — |
| NCT07214779 | Phase 3 | Recruiting | Sponsor | INCY | — | Ovarian Cancer | — |
Sponsor-matched active trials from ClinicalTrials.gov (62 as sponsor, 100 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.
View all 162 active trials for Incyte Corporation on ClinicalTrials.gov
Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.
| Fund | Shares | Q/Q change | % of portfolio | Filing |
|---|---|---|---|---|
| Baker Bros. Advisors | 30,762,330 | +17,918 | 17.48% | 2026-08-14 |
Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.
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