Cover and table of contents

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Cover and table of contents

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 10-Q

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(Mark One)

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☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

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For the quarterly period ended June 30, 2022

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or

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☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

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For the transition period from to

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Commission File Number: 001-12400

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INCYTE CORPORATION

(Exact name of registrant as specified in its charter)

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Delaware​94-3136539
(State or other jurisdiction of incorporation or organization)​(IRS Employer Identification No.)
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1801 Augustine Cut-Off Wilmington**,** DE 19803​19803
(Address of principal executive offices)​(Zip Code)

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(302) 498-6700

(Registrant’s telephone number, including area code)

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Securities registered pursuant to Section 12(b) of the Act:

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Title of each classTrading Symbol(s)Name of exchange on which registered
Common Stock, $.001 par value per share​INCYThe Nasdaq Stock Market LLC

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Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ⌧ Yes ◻ No

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Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ⌧ Yes ◻ No

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Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

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Large accelerated filer ☒​Accelerated filer ☐
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Non-accelerated filer ☐​Smaller reporting company ☐
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​​Emerging growth company ☐

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes ☒ No

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The number of outstanding shares of the registrant’s Common Stock, $.001 par value, was 222,430,635 as of July 26, 2022.

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INCYTE CORPORATION

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INDEX

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0​​​
PART I: FINANCIAL INFORMATION3
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Item 1.Financial Statements​3
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​Condensed Consolidated Balance Sheets​3
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​Condensed Consolidated Statements of Operations​4
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​Condensed Consolidated Statements of Comprehensive Income (Loss)​5
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​Condensed Consolidated Statements of Stockholders’ Equity​6
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​Condensed Consolidated Statements of Cash Flows​8
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​Notes to Condensed Consolidated Financial Statements​9
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Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations​28
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​Forward-Looking Statements​28
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​Summary Risk Factors​31
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Item 3.Quantitative and Qualitative Disclosures about Market Risk​55
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Item 4.Controls and Procedures​56
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PART II: OTHER INFORMATION​​
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Item 1A.Risk Factors​56
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Item 6.Exhibits​85
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​Signatures​86
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PART I: FINANCIAL INFORMATION

Next: Item 1. Financial Statements