Incyte (INCY) Investor update summary

Strategy and portfolio

• Solid-tumor strategy prioritizes differentiated targeted therapies for high-incidence cancers with limited options, frontline treatment and rational combinations.

• Three programs—INCA33890, INCB161734 and CDK2 inhibitor INCB123667—target indications representing ~250,000 new patients annually; lead focus includes MSS CRC, KRAS G12D PDAC and CCNE1-positive ovarian cancer.

• INCA33890 and INCB161734 span five treatment settings and an estimated 200k+ patients, with development expanding into adjuvant settings and additional tumor types.

• Planned INCB161734 combinations include navlimetostat, PARP1 inhibitor SNV1521 and petosemtamab; studies are expected to begin in 2027.

INCA33890 in MSS colorectal cancer

• TGFβR2 × PD-1 bispecific designed to inhibit TGFβ signaling selectively on PD-1-positive cells.

• In 42 efficacy-evaluable patients with 1L MSS CRC, INCA33890 + FOLFOX + bevacizumab achieved 71% ORR, 100% DCR and 81% 6-month PFS at median follow-up of 5.6 months.

• ORR was 83% with liver metastases, 62% with peritoneal metastases and 81% with PD-L1 TAP ≥1%.

• No DLTs occurred; in the 1L FOLFOX + bevacizumab cohort, grade ≥3 TEAEs occurred in 72% and grade ≥3 immune-related events in 14%; treatment discontinuation was 9%.

• Phase 3 NEXERA-303 is evaluating INCA33890 or placebo with FOLFOX + bevacizumab; topline data expected in 2029. A Phase 2 adjuvant study in ctDNA-positive CRC is ongoing.

INCB161734 in pancreatic cancer

• At 1,200 mg daily, INCB161734 + mFOLFIRINOX achieved 89% ORR (81% confirmed and pending), 100% DCR and 90% 6-month PFS.

• With GEMNabP, ORR was 69% (58% confirmed and pending), DCR was 96% and 6-month PFS was 80%.

• Safety was broadly consistent with chemotherapy backbones; no fatal treatment-related events were recorded, and no INCB161734-related treatment discontinuations occurred with mFOLFIRINOX versus one with GEMNabP.

• Phase 3 DAWN-303 is evaluating INCB161734 plus chemotherapy versus placebo plus chemotherapy in 1L metastatic PDAC; topline data expected in 2028.

• A Phase 3 adjuvant PDAC study and Phase 1b combinations with navlimetostat and SNV1521 are planned for 2027.