Every material Form 8-K Incyte filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Incyte Corporation disclosed that Hervé Hoppenot, its former Chairman and Chief Executive Officer, retired from the Company's Board of Directors, effective immediately, after notifying the Company on December 10, 2025. He had served on the board since 2014. The filing reports no successor, replacement, or change in compensation.
Hervé Hoppenot notified Incyte on December 10, 2025 of his retirement from the board.
Retirement is effective immediately, per the filing.
Hoppenot is a former Chairman and Chief Executive Officer and had been a director since 2014.
The filing was signed December 12, 2025 by Richard Hoffman, Executive Vice President and General Counsel.
Incyte reported third-quarter 2025 total revenues of $1.37 billion, up 20% from a year earlier, and GAAP net income of $424.2 million, or $2.11 per diluted share, compared with $106.5 million, or $0.54 per diluted share, in the prior-year quarter. The company raised its full-year 2025 net product revenue guidance to $4.23-$4.32 billion, while reiterating its guidance for cost of product revenues, R&D and SG&A expenses.
Total revenues were $1.37 billion, up 20%; total net product revenues were $1.15 billion, up 19%.
GAAP diluted EPS was $2.11 versus $0.54 a year earlier; GAAP net income was $424.2 million versus $106.5 million.
Jakafi net product revenue rose 7% to $791 million; Opzelura rose 35% to $188 million.
Full-year 2025 net product revenue guidance was raised to $4.23-$4.32 billion, from the prior range that the filing lists for Jakafi and other oncology products.
Incyte Corporation's board appointed Thomas Tray, its Vice President, Finance and Chief Accounting Officer, to also serve as principal financial officer, effective September 16, 2025. The filing discloses no compensation terms and no arrangements tied to the appointment, and Mr. Tray has been with the company since June 2005.
Board appointed Thomas Tray as principal financial officer on September 30, 2025, effective September 16, 2025
Tray already serves as Vice President, Finance and Chief Accounting Officer (principal accounting officer)
Tray, age 48, joined Incyte in June 2005 as Manager, External Reporting
Filing states no arrangements or understandings with other persons tied to the appointment
Incyte's Executive Vice President and Chief Financial Officer, Christiana Stamoulis, notified the company on August 4, 2025 that she intends to leave her role to pursue another opportunity. She will stay until September 16, 2025 to support a smooth transition, and the company has started the process of naming a successor.
Christiana Stamoulis, EVP and CFO, gave notice on August 4, 2025
Her departure is effective September 16, 2025
She will remain with the company until then to support the transition
Incyte has begun the process of appointing a successor CFO
Incyte reported second-quarter 2025 total revenues of $1,216 million, up 16% from a year earlier, and GAAP net income of $405 million, compared with a loss of $444.6 million in the prior-year quarter. The company raised its full-year 2025 guidance for Jakafi and other oncology net product revenues, while absorbing a $242.3 million charge from its contract dispute settlement with Novartis.
Total revenues were $1,216 million in Q2 2025, up 16% year over year; Jakafi net product revenues were $764 million, up 8%.
GAAP diluted EPS was $2.04, compared with a loss of $2.04 per share in Q2 2024.
Full-year 2025 Jakafi net product revenue guidance was raised to $3,000-$3,050 million from $2,950-$3,000 million; other oncology guidance was raised to $500-$520 million from $415-$455 million.
The Novartis contract dispute settlement led to a $242.3 million difference recorded in contract dispute settlement expense; Incyte paid Novartis $280.0 million.
Incyte said Hervé Hoppenot retired as President and Chief Executive Officer effective June 26, 2025, and will remain on the Board and serve as a special advisor under a transition agreement. The company also appointed William J. Meury as President and Chief Executive Officer and to the Board, effective the same day, with a $1,250,000 initial base salary and a 100% target bonus.
William J. Meury, age 57, was named President, CEO and director effective June 26, 2025; he was previously CEO of Karuna Therapeutics, which was acquired by Bristol-Myers Squibb.
Julian C. Baker, Lead Independent Director, became Chairman of the Board effective June 26, 2025.
Meury's offer letter provides a 36,101-share sign-on RSU award, 110,630 stock options, a 108,303-share target performance share award, and a one-time 125,000-share target performance share award.
Hoppenot will receive his current annual base salary of $1,395,731 for six months, then 50% of that rate, under a transition agreement with a term ending no later than the first anniversary of June 26, 2025.
At its June 10, 2025 annual meeting, Incyte stockholders approved an 8,500,000-share increase to the shares available under the 2010 Stock Incentive Plan, removed the fungible share ratio for future awards, and extended the plan's termination date by five years. They also approved a 1,000,000-share increase to the 1997 Employee Stock Purchase Plan, elected all nine director nominees, and ratified Ernst & Young LLP as auditor for 2025. Larger equity plan reserves allow more stock awards, which can dilute existing shareholders.
Stock Incentive Plan share reserve rises 8,500,000 shares, from 66,453,475 to 74,953,475
Employee Stock Purchase Plan reserve rises 1,000,000 shares, from 10,350,000 to 11,350,000
Non-binding say-on-pay vote: 153,838,972 for, 13,020,842 against, 571,301 abstentions
Ernst & Young LLP ratified as auditor for 2025: 166,830,874 for, 10,085,753 against
Incyte reported first quarter 2025 total revenues of $1.05 billion, up 20% from a year earlier, and GAAP diluted EPS of $0.80 versus $0.75. The company raised its full-year 2025 Jakafi net product revenue guidance to $2.95 billion to $3.00 billion, while GAAP net income fell to $158.2 million from $169.5 million.
Total revenues were $1,052.9 million in Q1 2025 versus $880.9 million in Q1 2024 (+20%); total net product revenues rose 26%.
Jakafi net product revenues were $709.4 million in Q1 2025 (+24%); full-year 2025 Jakafi guidance raised to $2,950 million to $3,000 million from $2,925 million to $2,975 million.
GAAP operating income was $205.2 million versus $91.9 million; GAAP net income was $158.2 million versus $169.5 million.
Cash, cash equivalents and marketable securities were $2.4 billion as of March 31, 2025, up from $2.2 billion at December 31, 2024.
Incyte reported fourth-quarter 2024 total revenues of $1.2 billion, up 16% year over year, and full-year revenues of $4.2 billion, up 15%. Full-year GAAP net income fell to $32.6 million from $597.6 million, mainly because of a $679.4 million charge for in-process R&D assets acquired with Escient and a $100.0 million milestone payment to MacroGenics. The company also gave 2025 guidance for Jakafi and Opzelura net product revenues.
Q4 2024 GAAP net income was $201.2 million, or $1.02 per diluted share, versus $201.1 million, or $0.89, a year earlier
Full-year 2024 GAAP diluted EPS was $0.15, compared with $2.65 in 2023
2025 guidance: Jakafi net product revenues of $2,925 million to $2,975 million; Opzelura $630 million to $670 million
Cash, cash equivalents and marketable securities were $2.2 billion at December 31, 2024, down from $3.7 billion, mainly due to a $2.0 billion share repurchase in June 2024
Incyte said Executive Vice President and General Manager, North America Barry P. Flannelly announced his retirement on January 6, 2025, and stepped down from that role that day. He will stay employed through July 31, 2025 to help transition his responsibilities until a successor begins work.
Barry P. Flannelly announced retirement and stepped down as EVP, General Manager, North America on January 6, 2025
Role change takes full effect when his successor starts employment; successor not named in the filing
Flannelly remains employed through July 31, 2025 to assist with the transition
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