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A biopharmaceutical company that develops treatments for blood cancers and other cancers (JAKAFI, ICLUSIG), plus creams for skin conditions like vitiligo and eczema (OPZELURA). Founded in 1991 in Palo Alto, it began as a genomics pioneer selling its LifeSeq gene database to researchers before pivoting to making its own drugs. Its name blends "insight" with "cyt," the Greek root for cell — a nod to its genome-sequencing roots.
Incyte completes $1.25B acquisition of Vega Therapeutics, adding Phase 3 VGA039 for von Willebrand disease
Incyte Corporation completed its previously announced acquisition of Vega Therapeutics, Inc., a wholly owned subsidiary of Star Therapeutics LLC, on July 6, 2026.
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The acquisition adds VGA039, a novel investigational monoclonal antibody in Phase 3 development for von Willebrand disease (VWD), to Incyte's hematology portfolio.
Incyte paid $1.25 billion upfront for all outstanding shares of Vega Therapeutics, with up to $750 million in additional payments tied to sales milestones.
VGA039 has received Breakthrough Therapy, Fast Track, orphan drug, and rare pediatric disease designations from the FDA, and is being studied in the Phase 3 VIVID-6 trial.
The transaction is expected to be reflected as a one-time R&D expense in Incyte's third quarter and full year 2026 GAAP and non-GAAP financial results.
8.01 Other Events · 9.01 Financial Statements and Exhibits
Incyte to acquire Vega Therapeutics for $1.25B upfront, up to $2.0B total
Incyte entered a definitive agreement to acquire Vega Therapeutics, a wholly owned subsidiary of Star Therapeutics, for $1.25 billion upfront plus up to $750 million in sales milestone payments.
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The acquisition adds VGA039, a Phase 3 investigational monoclonal antibody targeting Protein S for von Willebrand disease (VWD), to Incyte's hematology portfolio.
VGA039 has FDA Breakthrough Therapy, Fast Track, orphan drug, and rare pediatric disease designations and is in the global Phase 3 VIVID-6 study.
The transaction is expected to close in Q3 2026, subject to Hart-Scott-Rodino review and other customary conditions, with an expected R&D charge of approximately $1.25 billion.
Incyte will host an analyst and investor call on June 8, 2026, at 8:00 a.m. ET to discuss the acquisition.
Incyte reports Q1 2026 revenue of $1.27B, up 21% year-over-year
Total revenue was $1.27 billion for Q1 2026, a 21% increase from Q1 2025.
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Total net sales were $1.10 billion, up 20% year-over-year, driven by Jakafi, Opzelura, Niktimvo, Monjuvi, and Zynyz.
GAAP net income was $303.3 million, up from $158.2 million in Q1 2025; GAAP diluted EPS was $1.47.
The company announced positive Phase 3 results for povorcitinib in vitiligo and expects four product approvals and launches from mid-2026 into early 2027.
Suketu Upadhyay was appointed CFO, effective May 4, 2026.
2.02 Results of Operations and Financial Condition
Incyte announces executive title changes; Cagnoni becomes President, Incyte
Pablo J. Cagnoni's title changed to President, Incyte and Global Head of Research and Development, effective March 25, 2026.
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Steven H. Stein's title changed to Executive Vice President, Chief Medical Officer and Head of Late-stage Development.
Mohamed Issa's title changed to Executive Vice President and Head of U.S. Commercial, with expanded responsibility for U.S. Immunology.
William J. Meury remains CEO and Board member, but is replaced by Cagnoni as President.
Matteo Trotta, EVP and General Manager, U.S. Dermatology, will leave Incyte following a transition period.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits