Incyte, Compass, Precision, Intensity and Evofem Report Q1 2026 Results

Several biopharmaceutical companies reported first quarter 2026 financial results and provided business updates, led by Incyte's 21% revenue increase to $1.27 billion. Compass Therapeutics disclosed positive Phase 2/3 data for tovecimig in biliary tract cancer, while Precision BioSciences advanced its in vivo gene editing programs, and Intensity Therapeutics and Evofem reported clinical and commercial progress.

Incyte reported total revenue of $1.27 billion for the first quarter of 2026, an increase of 21% compared to the same period in 2025, and total net sales of $1.10 billion, up 20%. Jakafi (ruxolitinib) net sales were $758 million, an increase of 7%; Opzelura (ruxolitinib) cream net sales were $143 million, up 20%; and the Hematology and Oncology portfolio had net sales of $204 million, up 116%. The company said it expects four product approvals and launches from mid-2026 into early 2027. The New Drug Application for povorcitinib in hidradenitis suppurativa was accepted, and the company reported positive Phase 3 results for povorcitinib in nonsegmental vitiligo. The late-stage pipeline now includes 10 Phase 3 studies underway, including a Phase 3 trial of INCB161734 in pancreatic ductal adenocarcinoma. Data from the pivotal Phase 3 frontMIND trial of tafasitamab and lenalidomide plus R-CHOP in newly diagnosed diffuse large B-cell lymphoma will be presented at the 2026 ASCO Annual Meeting. Incyte ended the quarter with $4.0 billion in cash, cash equivalents and marketable securities.

Compass Therapeutics reported that tovecimig (DLL4 x VEGF-A bispecific antibody) in combination with paclitaxel demonstrated a highly statistically significant improvement in progression-free survival versus paclitaxel alone in a Phase 2/3 study of patients with biliary tract cancer. The overall response rate was 17.1% for the tovecimig combination (n=111) compared to 5.3% for paclitaxel alone (n=57) (p=0.031). Progression-free survival was 4.7 months versus 2.6 months (HR=0.44, p<0.0001). Overall survival analysis was confounded by high crossover from the control arm; crossover patients who subsequently received tovecimig had a median OS of 12.8 months compared to 6.1 months for non-crossover patients (HR=0.54, p=0.04). For all patients treated with tovecimig, including crossover patients, pooled median OS was 9.8 months. Tovecimig received Orphan Drug Designation in April, and the company intends to meet with the FDA before a planned BLA submission later this year. The Phase 1 dose-escalation study of CTX-8371 was selected for a poster presentation at ASCO 2026, highlighting three deep responses in patients treated in the post-checkpoint inhibitor setting, and the Phase 1 study of CTX-10726 was initiated in the same setting. Compass reported a first quarter net loss of $18.3 million, or $0.10 per common share, with $195 million in cash and marketable securities expected to fund operations into 2028.

Precision BioSciences reported a cash balance of $125.8 million as of March 31, 2026. In its wholly owned portfolio, the company has treated 16 patients with 38 administrations of PBGENE-HBV across five cohorts in the first-in-human ELIMINATE-B trial for chronic hepatitis B. PBGENE-DMD received Investigational New Drug approval and the first clinical trial site was activated for the Phase 1/2 FUNCTION-DMD trial in Duchenne muscular dystrophy. For partnered programs, iECURE's ECUR-506 gene insertion program for OTC deficiency is ongoing in a first-in-human trial, and Imugene continues development of Azer-Cel in diffuse large B-cell lymphoma after receiving FDA guidance on the registrational pathway.

Intensity Therapeutics reported cash and cash equivalents of $10.2 million as of March 31, 2026. In the INVINCIBLE-4 Study in early-stage, operable triple negative breast cancer, five of seven patients (71.4%) who received INT230-6 before standard of care achieved a pathological complete response versus two of six (33%) in the standard-of-care arm, and 44% fewer grade 3 or higher adverse events were observed in the INT230-6 cohort. Approval to resume enrollment was granted on March 26, 2026, with enrollment planned to resume in the second quarter of 2026. The company also decided to resume enrollment in the INVINCIBLE-3 Study in soft tissue sarcoma in a limited number of U.S. sites by the third quarter of 2026.

Evofem Biosciences reported first quarter 2026 net sales of $0.9 million, compared to $0.8 million in the prior year period, and a net loss of $5.5 million, compared to net income of $1.0 million in the first quarter of 2025. The company expanded into Sub-Saharan Africa through a distribution agreement with Clovis Davis Pharmaceuticals for SOLOSEC (secnidazole) 2g oral granules. The Emirates Drug Establishment is reviewing marketing approval submissions for PHEXX and SOLOSEC in the United Arab Emirates, and advanced patient recruitment continues in an investigator-led, NIH-funded Phase 4 clinical trial comparing single-dose SOLOSEC to multi-dose metronidazole for Trichomonas vaginalis.