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WILMINGTON, Del.--( BUSINESS WIRE )--Incyte (Nasdaq:INCY) today reports 2023 fourth quarter financial results, provides 2024 financial guidance and provides a status update on the Company’s research and development portfolio. "We delivered a strong 2023 with total net product and royalty revenues of $3.7 billion, increasing 14% versus 2022. In the fourth quarter, we achieved for the first time, a new milestone of $1 billion in total quarterly revenues, driven by the continued growth of Jakafi ® (ruxolitinib) and the successful launch of Opzelura ® (ruxolitinib) cream," said Hervé Hoppenot, Chief Executive Officer, Incyte. "Throughout 2023, we focused our R&D efforts on high potential programs and believe we are positioned to deliver more than ten high impact launches by 2030." Key Product Sales Performance Jakafi: Net product revenues for the fourth quarter of 2023 of $695 million; 2023 full year net product revenues of $2.59 billion Fourth quarter 2023 net product revenues grew 7% compared with the fourth quarter of 2022 and grew 8% for the full year 2023 when compared to 2022. Fourth quarter revenues were negatively impacted by an increase in the number of Medicare Part D patients receiving free product and were positively impacted by an increase in channel inventory. Opzelura: Net product revenues for the fourth quarter of 2023 of $109 million; 2023 full year net product revenues of $338 million: Net product revenues of $109 million grew 78% compared with the fourth quarter of 2022, driven by growth in patient demand, refills and expansion in payer coverage as the launch in atopic dermatitis (AD) and vitiligo continues. For the full-year, 2023 net product revenues grew 162% over the prior year to $338 million. On January 31, 2024, Incyte received approval in France to promote and distribute Opzelura for vitiligo under a process called “Accès Direct.” This process is intended to allow for early access to a therapy while a final price is negotiated, which is expected to take up to twelve months. Once price reimbursement is determined, Incyte will begin recognizing revenue in France. Key Recent Updates In February 2024, Incyte entered into an asset purchase agreement with MorphoSys AG which gave Incyte exclusive global rights for tafasitamab, a humanized Fc-modified CD19-targeting immunotherapy marketed in the U.S. as Monjuvi ® (tafasitamab-cxix) and outside of the U.S. as Minjuvi ® (tafasitamab). Under the terms of the agreement, MorphoSys received a payment of $25 million from Incyte, and Incyte gained global development and commercialization rights for tafasitamab. Incyte will recognize revenue and cost for all U.S. commercialization and clinical development and MorphoSys will no longer be eligible to receive future milestone, profit split and royalty payments. In January 2024, Incyte announced the primary endpoint was met in its randomized, placebo-controlled, Phase 2 study evaluating the safety and efficacy of ruxolitinib cream (Opzelura ® ) in adults with mild/moderate hidradenitis suppurativa (HS). At Week 16, patients receiving ruxolitinib cream 1.5% twice daily (BID) had significantly greater decreases from baseline versus placebo in total abscess and inflammatory nodule (AN) count, the primary endpoint of the study. The overall safety profile of ruxolitinib cream was consistent with previous data, and no new safety signals were observed. The Phase 2 data is anticipated to be presented at an upcoming scientific meeting in 2024. A Phase 3 study is currently being evaluated. In January 2024, Incyte highlighted promising early clinical efficacy data for its selective inhibitor of CDK2 (INCB123667), which demonstrated its potential use as monotherapy or combination therapy for late-stage cancers. In a Phase 1 study of INCB123667, early clinical activity was observed with several partial responses (PR) achieved in patients with amplification/over expression of CCNE1, a cell cycle regulator and potential predictive biomarker. Tumor shrinkage was observed across multiple tumor types, including CCNE1 patients with ovarian cancer. The safety profile of for INCB123667 aligns with the mechanism of action. Additional data is expected to be presented in 2024. In December 2023, in collaboration with Syndax Pharmaceuticals, the Biologics License Application (BLA) was submitted for axatilimab in chronic graft-versus-host disease (cGVHD) with approval anticipated in the second half of 2024. Plans are underway to initiate two combination trials with axatilimab in cGVHD in mid-2024, including a Phase 2 combination trial with ruxolitinib and a Phase 3 combination trial with steroids. JAK2V617Fi (INCB160058), a potent and selective JAK2 pseudokinase domain binder, cleared the Investigational New Drug (IND) process with the FDA and a Phase 1 study is anticipated to initiate in the first half of 2024. INCB160058 has the potential to be a disease modifying therapy and to address a significant patient population. The JAK2 mutation is found in 55% of primary myelofibrosis, 95% of polycythemia vera and 60% of essential thrombocythemia patients. A Phase 1 study of KRASG12D (INCB161734) in patients with advanced metastatic solid tumors with a KRAS G12D mutation was recently initiated and the first patient was dosed. KRAS mutations are one of the most common genetic abnormalities in cancer, especially pancreatic and colorectal cancers. In December 2023, Incyte received FDA feedback and agreed to the path forward for once daily (QD) ruxolitinib (XR). The potential approval of QD ruxolitinib (XR) is anticipated in approximately two years. Additional Pipeline Updates Myeloproliferative Neoplasms (MPNs) and Graft-Versus-Host Disease (GVHD) – key highlights In December 2023, Incyte presented more than 40 hematology and oncology abstracts including a Plenary Scientific Session at the 2023 ASH Annual Meeting. The plenary presentation featured the full data from AGAVE-201 evaluating axatilimab, an anti-CSFR-1R monoclonal antibody, in patients with cGVHD. Other key highlights included additional data from the Phase 1/2 Study of zilurgisertib (INCB000928), Phase 1 data of BETi (INCB057643) and preclinical data of JAK2V617Fi (INCB160058). Combination trials of ruxolitinib twice daily (BID) with zilurgisertib (INCB000928) and BETi (INCB057643) are ongoing and continue to enroll. Incyte anticipates initiating a Phase 3 study for BETi in the second half of 2024 and achieving clinical proof-of-concept for zilurgisertib by mid-2024. The Phase 1 study evaluating the mCALR monoclonal antibody (INCA033989) is ongoing and enrolling patients. MPN and GVHD Programs Indication and Phase Ruxolitinib XR (QD) ( JAK1/JAK2) Myelofibrosis, polycythemia vera and GVHD Ruxolitinib + zilurgisertib J AK1/JAK2 + ALK2) Myelofibrosis: Phase 2 Ruxolitinib + INCB57643 ( JAK1/JAK2 + BET) Myelofibrosis: Phase 2 Ruxolitinib + CK0804 1 ( JAK1/JAK2 + CB-Tregs) Myelofibrosis: Phase 1 (LIMBER-TREG108) Axatilimab (anti-CSF-1R) 2 Chronic GVHD: Pivotal Phase 2 (third-line plus therapy) (AGAVE-201); BLA under review in the U.S. Ruxolitinib + axatilimab 2 ( JAK1/JAK2 + anti-CSF-1R) Chronic GVHD: Phase 1/2 in preparation INCA033989 ( mCALR) Myelofibrosis, essential thrombocythemia: Phase 1 INCB160058 ( JAK2V617Fi) Phase 1 1 Development collaboration with Cellenkos, Inc. 2 Clinical development of axatilimab in GVHD conducted in collaboration with Syndax Pharmaceuticals. Other Hematology/Oncology – key highlights CDK2i (INCB123667) In January 2024, Incyte highlighted promising early clinical efficacy data for its selective small molecule inhibitor of CDK2 (INCB123667), which demonstrated its potential use as monotherapy or combination therapy for late-stage cancers. In a Phase 1 study of INCB123667, early clinical activity was observed with several partial responses (PR) achieved in patients with amplification/over expression of CCNE1, a cell cycle regulator and potential predictive biomarker. Tumor shrinkage was observed across multiple tumor types, including CCNE1+ patients with ovarian cancer. The safety profile of for INCB123667 aligns with the mechanism of action. Additional data is expected to be presented in 2024. Oncology Programs Indication and Phase Pemigatinib (Pemazyre ® ) ( FGFR1/2/3) Myeloid/lymphoid neoplasms (MLN): approved in the U.S. and Japan Cholangiocarcinoma (CCA): Phase 3 (FIGHT-302) Glioblastoma: Phase 2 (FIGHT-209) Tafasitamab (Monjuvi ® /Minjuvi ® ) ( CD19) Relapsed or refractory diffuse large B-cell lymphoma (DLBCL): Phase 3 (B-MIND) First-line DLBCL: Phase 3 ( front MIND) Relapsed or refractory follicular lymphoma (FL) and relapsed or refractory marginal zone lymphoma (MZL): Phase 3 ( in MIND) Retifanlimab (Zynyz ® ) 1 ( PD-1) Merkel cell carcinoma (MCC): approved in the U.S. Squamous cell anal cancer (SCAC): Phase 3 (POD1UM-303) Non-small cell lung cancer (NSCLC): Phase 3 (POD1UM-304) MSI-high endometrial cancer: Phase 2 (POD1UM-101, POD1UM-204) INCB99280 ( Oral PD-L1) Solid tumors (combination): Phase 1 Solid tumors (monotherapy): Phase 2 Cutaneous squamous cell carcinoma (cSCC): Phase 2 INCB99318 ( Oral PD-L1) Solid tumors: Phase 1 INCB123667 ( CDK2i) Solid tumors with Amplification/ Overexpression of CCNE1: Phase 1 INCB161734 ( KRASG12D) Advanced metastatic solid tumors with a KRAS G12D mutation: Phase 1 1 Retifanlimab licensed from MacroGenics. Inflammation and Autoimmunity (IAI) – key highlights Dermatology Ruxolitinib Cream Incyte announced the primary endpoint was met in its randomized, placebo-controlled, Phase 2 study evaluating the safety and efficacy of ruxolitinib cream (Opzelura ® ) in adults with mild/moderate HS. At Week 16, patients receiving ruxolitinib cream 1.5% twice daily (BID) had significantly greater decreases from baseline versus placebo in total abscess and inflammatory nodule (AN) count, the primary endpoint of the study. The overall safety profile of ruxolitinib cream is consistent with previous data, and no new safety signals were observed. The Phase 2 data is anticipated to be presented at an upcoming scientific meeting in 2024. A Phase 3 study is currently being evaluated. Two Phase 2 studies in lichen planus and lichen sclerosus have completed enrollment. Two Phase 3 trials evaluating ruxolitinib cream in prurigo nodularis (PN) are ongoing. Povorcitinib (INCB54707) The Phase 2, randomized, double-blind, placebo-controlled, dose ranging study evaluating the efficacy and safety of povorcitinib in participants with PN met its primary endpoint. A Phase 3 study in PN is being planned. Asthma and chronic spontaneous urticaria: Two Phase 2 trials in asthma and chronic spontaneous urticaria are enrolling. IAI and Dermatology Programs Indication and Phase Ruxolitinib cream (Opzelura ® ) 1 ( JAK1/JAK2) AD: Phase 3 pediatric study (TRuE-AD3) Vitiligo: Approved in the U.S. and Europe Lichen planus: Phase 2 Lichen sclerosus: Phase 2 Hidradenitis suppurativa: Phase 2; Phase 3 being evaluated Prurigo nodularis: Phase 3 (TRuE-PN1, TRuE-PN2) Ruxolitinib cream + UVB ( JAK1/JAK2 + phototherapy) Vitiligo: Phase 2 Povorcitinib ( JAK1) Hidradenitis suppurativa: Phase 3 (STOP-HS1, STOP-HS2) Vitiligo: Phase 3 (STOP-V1, STOP-V2) Prurigo nodularis: Phase 2; Phase 3 in planning Asthma: Phase 2 Chronic spontaneous urticaria: Phase 2 INCA034460 ( anti-IL-15Rβ) Vitiligo: Phase 1 initiated 1 Novartis’ rights to ruxolitinib outside of the United States under our Collaboration and License Agreement with Novartis do not include topical administration. Other Other Program Indication and Phase Zilurgisertib ( ALK2) Fibrodysplasia ossificans progressiva: Pivotal Phase 2 Discovery and other early development Modality Candidates Monoclonal antibodies INCAGN2385 (LAG-3) 1 , INCAGN2390 (TIM-3) 1 Bi-specific antibodies INCA32459 (LAG-3xPD-1) 2 , INCA33890 (TGFβR2xPD-1) 2 1 Discovery collaboration with Agenus. 2 Development in collaboration with Merus. Partnered Partnered Programs Indication and Phase Ruxolitinib (Jakavi ® ) 1 ( JAK1/JAK2) Acute and chronic GVHD: Approved in Europe and Japan Baricitinib (Olumiant ® ) 2 ( JAK1/JAK2) AD: Approved in Europe and Japan Severe alopecia areata (AA): Approved in the U.S., Europe and Japan Capmatinib (Tabrecta ® ) 3 ( MET) NSCLC (with MET exon 14 skipping mutations): Approved in the U.S., Europe and Japan 1 Ruxolitinib (Jakavi ® ) licensed to Novartis ex-U.S. for use in hematology and oncology excluding topical administration. 2 Baricitinib (Olumiant ® ) licensed to Lilly: approved as Olumiant in multiple territories globally for certain patients with moderate-to-severe rheumatoid arthritis; approved as Olumiant in EU and Japan for certain patients with atopic dermatitis. 3 Capmatinib (Tabrecta ® ) licensed to Novartis. 2023 Fourth Quarter and Year-end Financial Results The financial measures presented in this press release for the quarter and year ended December 31, 2023 and 2022 have been prepared by the Company in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), unless otherwise identified as a Non-GAAP financial measure. Management believes that Non-GAAP information is useful for investors, when considered in conjunction with Incyte’s GAAP disclosures. Management uses such information internally and externally for establishing budgets, operating goals and financial planning purposes. These metrics are also used to manage the Company’s business and monitor performance. The Company adjusts, where appropriate, for expenses in order to reflect the Company’s core operations. The Company believes these adjustments are useful to investors by providing an enhanced understanding of the financial performance of the Company’s core operations. The metrics have been adopted to align the Company with disclosures provided by industry peers. Non-GAAP information is not prepared under a comprehensive set of accounting rules and should only be used in conjunction with and to supplement Incyte’s operating results as reported under GAAP. Non-GAAP measures may be defined and calculated differently by other companies in our industry. As changes in exchange rates are an important factor in understanding period-to-period comparisons, Management believes the presentation of certain revenue results on a constant currency basis in addition to reported results helps improve investors’ ability to understand its operating results and evaluate its performance in comparison to prior periods. Constant currency information compares results between periods as if exchange rates had remained constant period over period. The Company calculates constant currency by calculating current year results using prior year foreign currency exchange rates and generally refers to such amounts calculated on a constant currency basis as excluding the impact of foreign exchange or being on a constant currency basis. These results should be considered in addition to, not as a substitute for, results reported in accordance with GAAP. Results on a constant currency basis, as the Company presents them, may not be comparable to similarly titled measures used by other companies and are not measures of performance presented in accordance with GAAP. Financial Highlights Financial Highlights (unaudited, in thousands, except per share amounts) Three Months Ended December 31, Twelve Months Ended December 31, 2023 2022 2023 2022 Total GAAP revenues $ 1,013,341 $ 926,700 $ 3,695,649 $ 3,394,635 Total GAAP operating income 187,270 70,093 620,525 579,440 Total Non-GAAP operating income 267,702 152,503 892,783 801,545 GAAP provision for income taxes 69,877 52,154 236,616 188,456 GAAP net income 201,079 28,461 597,599 340,660 Non-GAAP net income 239,124 139,661 795,449 622,676 GAAP basic EPS $ 0.90 $ 0.13 $ 2.67 $ 1.53 Non-GAAP basic EPS $ 1.07 $ 0.63 $ 3.56 $ 2.80 GAAP diluted EPS $ 0.89 $ 0.13 $ 2.65 $ 1.52 Non-GAAP diluted EPS $ 1.06 $ 0.62 $ 3.52 $ 2.78 Revenue Details Revenue Details (unaudited, in thousands) Three Months Ended December 31, % C hange ( as reported) % C hange ( constant currency) 1 Twelve Months Ended December 31, % C hange ( as reported) % C hange ( constant currency) 1 2023 2022 2023 2022 Net product revenues: Jakafi $ 695,127 $ 647,493 7 % 7 % $ 2,593,732 $ 2,409,225 8 % 8 % Opzelura 109,243 61,281 78 % 78 % 337,864 128,735 162 % 162 % Iclusig 27,130 27,616 (2 %) (6 %) 111,623 105,838 5 % 3 % Pemazyre 20,653 23,016 (10 %) (11 %) 83,642 83,445 — % 1 % Minjuvi 8,994 4,809 87 % 79 % 37,057 19,654 89 % 87 % Zynyz 582 — NM NM 1,250 — NM NM Total net product revenues 861,729 764,215 13 % 13 % 3,165,168 2,746,897 15 % 15 % Royalty revenues: Jakavi 103,892 91,189 14 % 14 % 367,583 331,575 11 % 12 % Olumiant 40,359 35,858 13 % 12 % 136,138 134,547 1 % 4 % Tabrecta 4,678 4,233 11 % NA 17,793 15,411 15 % NA Pemazyre 683 1,205 NM NM 1,967 1,205 NM NM Total royalty revenues 149,612 132,485 13 % 523,481 482,738 8 % Total net product and royalty revenues 1,011,341 896,700 13 % 3,688,649 3,229,635 14 % Milestone and contract revenues 2,000 30,000 (93 %) (93 %) 7,000 165,000 (96 %) (96 %) Total GAAP revenues $ 1,013,341 $ 926,700 9 % $ 3,695,649 $ 3,394,635 9 % NM = not meaningful NA = not available 1 Percentage change in constant currency is calculated using 2022 foreign exchange rates to recalculate 2023 results. Product and Royalty Revenues Product revenues and product and royalty revenues for the quarter ended December 31, 2023 both increased 13%, and product revenues and product and royalty revenues for the year ended December 31, 2023 increased 15% and 14%, respectively, over the prior year comparative periods, primarily driven by increases in Jakafi and Opzelura net product revenues. Jakafi fourth quarter revenues were negatively impacted by an increase in the number of Medicare Part D patients receiving free product and were positively impacted by an increase in channel inventory. Opzelura net product revenues for the quarter were $109 million, representing a 78% increase year-over-year driven by growth in new patient starts and refills. Olumiant royalties for the quarter were impacted by favorable changes in foreign currency exchange rates. Operating Expenses Operating Expense Summary (unaudited, in thousands) Three Months Ended December 31, % C hange Twelve Months Ended December 31, % C hange 2023 2022 2023 2022 GAAP cost of product revenues $ 69,751 $ 59,163 18 % $ 254,990 $ 206,997 23 % Non-GAAP cost of product revenues 1 63,575 53,022 20 % 230,308 182,737 26 % GAAP research and development 444,494 501,360 (11 %) 1,627,594 1,585,936 3 % Non-GAAP research and development 2 408,488 469,048 (13 %) 1,500,897 1,473,420 2 % GAAP selling, general and administrative 293,865 272,819 8 % 1,161,293 1,002,140 16 % Non-GAAP selling, general and administrative 3 270,673 253,209 7 % 1,069,616 928,960 15 % GAAP loss on change in fair value of acquisition-related contingent consideration 15,058 24,347 (38 %) 29,202 12,149 140 % Non-GAAP loss on change in fair value of acquisition-related contingent consideration 4 — — — % — — — % GAAP (profit) and loss sharing under collaboration agreements 2,903 (1,082 ) (368 %) 2,045 7,973 (74 %) 1 Non-GAAP cost of product revenues excludes the amortization of licensed intellectual property for Iclusig relating to the acquisition of the European business of ARIAD Pharmaceuticals, Inc. and the cost of stock-based compensation. 2 Non-GAAP research and development expenses exclude the cost of stock-based compensation. 3 Non-GAAP selling, general and administrative expenses exclude the cost of stock-based compensation and asset impairments. 4 Non-GAAP loss on change in fair value of acquisition-related contingent consideration is null. Cost of product revenues GAAP and Non-GAAP cost of product revenues for the quarter ended December 31, 2023 increased 18% and 20%, respectively, and for the year ended December 31, 2023 increased 23% and 26% compared to the same periods in 2022 due to growth in net product revenues and inventory reserves for obsolescence. Research and development expenses GAAP and Non-GAAP research and development expense for the quarter ended December 31, 2023 decreased 11% and 13%, respectively, and for the year ended December 31, 2023 increased 3% and 2%, respectively, compared to the same periods in 2022. The decrease for the quarter was primarily due to the $70 million upfront payment made as part of the Villaris asset acquisition during the fourth quarter of 2022, offset in part by the $20 million development milestone payment to former Villaris stockholders in the fourth quarter of 2023. The increase for the full year was primarily due to continued investment in our late stage development assets. Selling, general and administrative expenses GAAP and Non-GAAP selling, general and administrative expenses for the quarter ended December 31, 2023 increased 8% and 7%, respectively, and for the year ended December 31, 2023 increased 16% and 15%, respectively, compared to the same periods in 2022, primarily due to expenses related to promotional activities to support the launch of Opzelura for the treatment of vitiligo. Other Financial Information Change in fair value of acquisition-related contingent consideration The change in fair value of contingent consideration during the quarter and year ended December 31, 2023, compared to the same periods in 2022, was due primarily to fluctuations in foreign currency exchange rates impacting future revenue projections of Iclusig. Operating income GAAP and Non-GAAP operating income for the year ended December 31, 2023 increased 7% and 11%, respectively, compared to the same period in 2022, primarily driven by growth in product revenues. Cash, cash equivalents and marketable securities position As of December 31, 2023 and 2022, cash, cash equivalents and marketable securities totaled $3.7 billion and $3.2 billion, respectively. 2024 Financial Guidance Incyte's guidance includes revenues and expenses related to the recently announced acquisition of exclusive global rights to tafasitamab and excludes any potential impact related to the accounting treatment of the $25 million purchase price paid. Guidance does not include revenue from any potential new product launches or the impact of any potential future strategic transactions. Incyte’s guidance is summarized below. Current Jakafi net product revenues $2,690 - $2,750 million Other Hematology/Oncology net product revenues (1) $325 - $360 million GAAP Cost of product revenues 7 – 8% of net product revenues Non-GAAP Cost of product revenues (2) 6 – 7% of net product revenues GAAP Research and development expenses $1,720 - $1,760 million Non-GAAP Research and development expenses (3) $1,580 - $1,615 million GAAP Selling, general and administrative expenses $1,210 - $1,240 million Non-GAAP Selling, general and administrative expenses (3) $1,115 - $1,140 million 1 Pemazyre in the U.S., EU and Japan; Monjuvi and Zynyz in the U.S.; and Iclusig and Minjuvi in the EU. 2 Adjusted to exclude the amortization of licensed intellectual property for Iclusig relating to the acquisition of the European business of ARIAD Pharmaceuticals, Inc. and the estimated cost of stock-based compensation. 3 Adjusted to exclude the estimated cost of stock-based compensation. Conference Call and Webcast Information Incyte will hold a conference call and webcast this morning at 8:00 a.m. ET. To access the conference call, please dial 877-407-3042 for domestic callers or 201-389-0864 for international callers. When prompted, provide the conference identification number, 13744020. If you are unable to participate, a replay of the conference call will be available for 90 days. The replay dial-in number for the United States is 877-660-6853 and the dial-in number for international callers is 201-612-7415. To access the replay you will need the conference identification number, 13744020. The conference call will also be webcast live and can be accessed at investor.incyte.com . About Incyte A global biopharmaceutical company on a mission to Solve On. , Incyte follows the science to find solutions for patients with unmet medical needs. Through the discovery, development and commercialization of proprietary therapeutics, Incyte has established a portfolio of first-in-class medicines for patients and a strong pipeline of products in Oncology and Inflammation & Autoimmunity. Headquartered in Wilmington, Delaware, Incyte has operations in North America, Europe and Asia. For additional information on Incyte, please visit Incyte.com or follow us on social media: LinkedIn , X , Instagram , Facebook , YouTube . About Jakafi ® (ruxolitinib) Jakafi ® (ruxolitinib) is a JAK1/JAK2 inhibitor approved by the U.S. FDA for treatment of polycythemia vera (PV) in adults who have had an inadequate response to or are intolerant of hydroxyurea; intermediate or high-risk myelofibrosis (MF), including primary MF, post-polycythemia vera MF and post-essential thrombocythemia MF in adults; steroid-refractory acute GVHD in adult and pediatric patients 12 years and older; and chronic GVHD after failure of one or two lines of systemic therapy in adult and pediatric patients 12 years and older. Jakafi is a registered trademark of Incyte. About Opzelura ® (ruxolitinib) Cream 1.5% Opzelura, a novel cream formulation of Incyte’s selective JAK1/JAK2 inhibitor ruxolitinib, approved by the U.S. Food & Drug Administration for the topical treatment of nonsegmental vitiligo in patients 12 years of age and older, is the first and only treatment for repigmentation approved for use in the United States. Opzelura is also approved in the U.S. for the topical short-term and non-continuous chronic treatment of mild to moderate atopic dermatitis (AD) in non-immunocompromised patients 12 years of age and older whose disease is not adequately controlled with topical prescription therapies, or when those therapies are not advisable. Use of Opzelura in combination with therapeutic biologics, other JAK inhibitors, or potent immunosuppressants, such as azathioprine or cyclosporine, is not recommended. In Europe, Opzelura (ruxolitinib) cream 15mg/g is approved for the treatment of non-segmental vitiligo with facial involvement in adults and adolescents from 12 years of age. Incyte has worldwide rights for the development and commercialization of ruxolitinib cream, marketed in the United States as Opzelura. Opzelura and the Opzelura logo are registered trademarks of Incyte . About Monjuvi ® /Minjuvi ® (tafasitamab) Tafasitamab is a humanized Fc-modified CD19 targeting immunotherapy. Tafasitamab incorporates an XmAb ® engineered Fc domain, which mediates B-cell lysis through apoptosis and immune effector mechanism including Antibody-Dependent Cell-Mediated Cytotoxicity (ADCC) and Antibody-Dependent Cellular Phagocytosis (ADCP). In the United States, Monjuvi ® (tafasitamab-cxix) is approved by the U.S. Food and Drug Administration in combination with lenalidomide for the treatment of adult patients with relapsed or refractory DLBCL not otherwise specified, including DLBCL arising from low grade lymphoma, and who are not eligible for autologous stem cell transplant (ASCT). This indication is approved under accelerated approval based on overall response rate. Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial(s). Please see the U.S. full Prescribing Information for Monjuvi for important safety information. In Europe, Minjuvi ® (tafasitamab) received conditional marketing authorization in combination with lenalidomide, followed by Minjuvi ® monotherapy, for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) who are not eligible for autologous stem cell transplant (ASCT). Tafasitamab is being clinically investigated as a therapeutic option in B-cell malignancies in several ongoing combination trials. Its safety and efficacy for these investigational uses have not been established in pivotal trials. Minjuvi ® and Monjuvi ® are registered trademarks of Incyte. Tafasitamab is marketed by under the brand name Monjuvi ® in the U.S., and under the brand name Minjuvi ® in Europe and Canada. Xencor is eligible to receive tiered royalties on global net sales of tafasitamab in the single-digit to sub-teen double-digit percentage range. XmAb ® is a registered trademark of Xencor, Inc. About Pemazyre ® (pemigatinib) Pemazyre is a kinase inhibitor indicated in the United States for the treatment of adults with previously treated, unresectable locally advanced or metastatic cholangiocarcinoma with a fibroblast growth factor receptor 2 (FGFR2) fusion or other rearrangement as detected by an FDA-approved test*. This indication is approved under accelerated approval based on overall response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial(s). Pemazyre is also the first targeted treatment approved for use in the United States for treatment of adults with relapsed or refractory myeloid/lymphoid neoplasms (MLNs) with FGFR1 rearrangement. In Japan, Pemazyre is approved for the treatment of patients with unresectable biliary tract cancer (BTC) with a fibroblast growth factor receptor 2 (FGFR2) fusion gene, worsening after cancer chemotherapy. In Europe, Pemazyre is approved for the treatment of adults with locally advanced or metastatic cholangiocarcinoma with a fibroblast growth factor receptor 2 (FGFR2) fusion or rearrangement that have progressed after at least one prior line of systemic therapy. Pemazyre is a potent, selective, oral inhibitor of FGFR isoforms 1, 2 and 3 which, in preclinical studies, has demonstrated selective pharmacologic activity against cancer cells with FGFR alterations. Pemazyre is marketed by Incyte in the United States, Europe and Japan. Pemazyre is a trademark of Incyte. * Pemazyre ® (pemigatinib) [Package Insert]. Wilmington, DE: Incyte; 2020. About Iclusig ® (ponatinib) tablets Ponatinib (Iclusig ® ) targets not only native BCR-ABL but also its isoforms that carry mutations that confer resistance to treatment, including the T315I mutation, which has been associated with resistance to other approved TKIs. In the EU, Iclusig is approved for the treatment of adult patients with chronic phase, accelerated phase or blast phase chronic myeloid leukemia (CML) who are resistant to dasatinib or nilotinib; who are intolerant to dasatinib or nilotinib and for whom subsequent treatment with imatinib is not clinically appropriate; or who have the T315I mutation, or the treatment of adult patients with Philadelphia-chromosome positive acute lymphoblastic leukemia (Ph+ ALL) who are resistant to dasatinib; who are intolerant to dasatinib and for whom subsequent treatment with imatinib is not clinically appropriate; or who have the T315I mutation. Click here to view the Iclusig EU Summary of Medicinal Product Characteristics. Incyte has an exclusive license from Takeda Pharmaceuticals International AG to commercialize ponatinib in the European Union and 29 other countries, including Switzerland, UK, Norway, Turkey, Israel and Russia. Iclusig is marketed in the U.S. by Millennium Pharmaceuticals, Inc., a wholly owned subsidiary of Takeda Pharmaceutical Company Limited. About Zynyz ® (retifanlimab-dlwr) Zynyz (retifanlimab-dlwr), is an intravenous PD-1 inhibitor indicated in the U.S. for the treatment of adult patients with metastatic or recurrent locally advanced Merkel cell carcinoma (MCC). This indication is approved under accelerated approval based on tumor response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials. Zynyz is marketed by Incyte in the U.S. In 2017, Incyte entered into an exclusive collaboration and license agreement with MacroGenics, Inc. for global rights to retifanlimab. Zynyz is a trademark of Incyte. Forward-Looking Statements Except for the historical information set forth herein, the matters set forth in this release contain predictions, estimates and other forward-looking statements, including any discussion of the following: Incyte’s potential for continued performance and growth; Incyte’s financial guidance for 2024, including its expectations regarding sales of Jakafi; expectations regarding demand for and sales of Opzelura, among other products; expectations regarding the potential and progress of programs in our pipeline, including INCB123667, INCB160058 and INCB161734; expectations regarding ongoing clinical trials and clinical trials to be initiated, including combination trials of ruxolitinib twice daily (BID) with zilurgisertib (INCB000928) and BETi (INCB057643), a phase 3 study of BETi and achieving clinical proof-of-concept for zilurgisertib, a phase 1 study evaluating the mCALR monoclonal antibody (INCA033989), a phase 3 trial of povorcitinib in prurigo nodularis, a phase 1/2 trial of ruxolitinib and axatilimab in chronic GVHD, various trials in our oral small molecule PD-L1 program, various phase 2 and 3 trials for ruxolitinib cream, and additional clinical trials across our MPH/GVHD, oncology, IAI and dermatology programs; our expectations regarding regulatory filings; expectations regarding the potential approval of QD Ruxolitinib (XR) in approximately two years; expectations regarding the number of products Incyte may launch by 2030, and our expectations regarding 2024 newsflow items. These forward-looking statements are based on Incyte’s current expectations and subject to risks and uncertainties that may cause actual results to differ materially, including unanticipated developments in and risks related to: further research and development and the results of clinical trials possibly being unsuccessful or insufficient to meet applicable regulatory standards or warrant continued development; the ability to enroll sufficient numbers of subjects in clinical trials and the ability to enroll subjects in accordance with planned schedules; determinations made by the FDA, EMA, and other regulatory agencies; Incyte’s dependence on its relationships with and changes in the plans of its collaboration partners; the efficacy or safety of Incyte’s products and the products of Incyte’s collaboration partners; the acceptance of Incyte’s products and the products of Incyte’s collaboration partners in the marketplace; market competition; unexpected variations in the demand for Incyte’s products and the products of Incyte’s collaboration partners; the effects of announced or unexpected price regulation or limitations on reimbursement or coverage for Incyte’s products and the products of Incyte’s collaboration partners; sales, marketing, manufacturing and distribution requirements, including Incyte’s and its collaboration partners’ ability to successfully commercialize and build commercial infrastructure for newly approved products and any additional products that become approved; greater than expected expenses, including expenses relating to litigation or strategic activities; variations in foreign currency exchange rates; and other risks detailed in Incyte’s reports filed with the Securities and Exchange Commission, including its annual report on form 10-K for the year ended December 31, 2023. Incyte disclaims any intent or obligation to update these forward-looking statements. INCYTE CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited, in thousands, except per share amounts) Three Months Ended December 31, Twelve Months Ended December 31, 2023 2022 2023 2022 GAAP GAAP Revenues: Product revenues, net $ 861,729 $ 764,215 $ 3,165,168 $ 2,746,897 Product royalty revenues 149,612 132,485 523,481 482,738 Milestone and contract revenues 2,000 30,000 7,000 165,000 Total revenues 1,013,341 926,700 3,695,649 3,394,635 Costs and expenses: Cost of product revenues (including definite-lived intangible amortization) 69,751 59,163 254,990 206,997 Research and development 444,494 501,360 1,627,594 1,585,936 Selling, general and administrative 293,865 272,819 1,161,293 1,002,140 Loss on change in fair value of acquisition-related contingent consideration 15,058 24,347 29,202 12,149 (Profit) and loss sharing under collaboration agreements 2,903 (1,082 ) 2,045 7,973 Total costs and expenses 826,071 856,607 3,075,124 2,815,195 Income from operations 187,270 70,093 620,525 579,440 Interest income and other, net 50,436 26,637 172,348 39,932 Interest expense (804 ) (667 ) (2,551 ) (2,666 ) Unrealized gain (loss) on long term investments 34,054 (15,448 ) 43,893 (87,590 ) Income before provision for income taxes 270,956 80,615 834,215 529,116 Provision for income taxes 69,877 52,154 236,616 188,456 Net income $ 201,079 $ 28,461 $ 597,599 $ 340,660 Net income per share: Basic $ 0.90 $ 0.13 $ 2.67 $ 1.53 Diluted $ 0.89 $ 0.13 $ 2.65 $ 1.52 Shares used in computing net income per share: Basic 224,226 222,615 223,628 222,004 Diluted 226,125 224,840 225,928 223,958 INCYTE CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited, in thousands) December 31, 2 023 December 31, 2 022 ASSETS Cash, cash equivalents and marketable securities $ 3,656,043 $ 3,238,965 Accounts receivable 743,557 644,879 Property and equipment, net 751,513 739,310 Finance lease right-of-use assets, net 25,535 26,298 Inventory 269,937 120,959 Prepaid expenses and other assets 236,782 194,144 Long term investments 187,716 133,676 Other intangible assets, net 123,545 129,219 Goodwill 155,593 155,593 Deferred income tax asset 631,886 457,941 Total assets $ 6,782,107 $ 5,840,984 LIABILITIES AND STOCKHOLDERS’ EQUITY Accounts payable, accrued expenses and other liabilities $ 1,347,669 $ 1,216,603 Finance lease liabilities 32,601 33,262 Acquisition-related contingent consideration 212,000 221,000 Stockholders’ equity 5,189,837 4,370,119 Total liabilities and stockholders’ equity $ 6,782,107 $ 5,840,984 INCYTE CORPORATION RECONCILIATION OF GAAP NET INCOME TO SELECTED NON-GAAP ADJUSTED INFORMATION (unaudited, in thousands, except per share amounts) Three Months Ended December 31, Twelve Months Ended December 31, 2023 2022 2023 2022 GAAP Net Income $ 201,079 $ 28,461 $ 597,599 $ 340,660 Adjustments 1 : Non-cash stock compensation from equity awards (R&D) 2 36,006 32,312 126,697 112,516 Non-cash stock compensation from equity awards (SG&A) 2 23,192 19,610 86,046 73,180 Non-cash stock compensation from equity awards (COGS) 2 792 757 3,146 2,724 Non-cash interest 3 108 143 463 431 Changes in fair value of equity investments 4 (34,054 ) 15,448 (43,893 ) 87,590 Amortization of acquired product rights 5 5,384 5,384 21,536 21,536 Loss on change in fair value of contingent consideration 6 15,058 24,347 29,202 12,149 Asset impairment 7 — — 5,631 — Tax effect of Non-GAAP pre-tax adjustments 8 (8,441 ) 13,199 (30,978 ) (28,110 ) Non-GAAP Net Income $ 239,124 $ 139,661 $ 795,449 $ 622,676 Non-GAAP net income per share: Basic $ 1.07 $ 0.63 $ 3.56 $ 2.80 Diluted $ 1.06 $ 0.62 $ 3.52 $ 2.78 Shares used in computing Non-GAAP net income per share: Basic 224,226 222,615 223,628 222,004 Diluted 226,125 224,840 225,928 223,958 1 Included within the Milestone and contract revenues line item in the Condensed Consolidated Statements of Operations (in thousands) for the three and twelve months ended December 31, 2023 are milestones of $2,000 and $7,000, respectively, earned from our collaborative partners, as compared to milestones of $30,000 and $165,000, respectively, for the three and twelve months ended December 31, 2022. Included within the Research and development expenses line item in the Condensed Consolidated Statements of Operations (in thousands) for the three and twelve months ended December 31, 2023 are upfront consideration and milestones of $24,000 and $36,650, respectively, related to our collaborative partners, as compared to upfront consideration and milestones of $70,000 and $125,950, respectively, for the three and twelve months ended December 31, 2022. 2 As included within the Cost of product revenues (including definite-lived intangible amortization) line item; the Research and development expenses line item; and the Selling, general and administrative expenses line item in the Condensed Consolidated Statements of Operations. 3 As included within the Interest expense line item in the Condensed Consolidated Statements of Operations. 4 As included within the Unrealized gain (loss) on long term investments line item in the Condensed Consolidated Statements of Operations. 5 As included within the Cost of product revenues (including definite-lived intangible amortization) line item in the Condensed Consolidated Statements of Operations. Acquired product rights of licensed intellectual property for Iclusig is amortized utilizing a straight-line method over the estimated useful life of 12.5 years. 6 As included within the Loss on change in fair value of acquisition-related contingent consideration line item in the Condensed Consolidated Statements of Operations. 7 As included within the Selling, general and administrative expenses line item in the Condensed Consolidated Statements of Operations. 8 Income tax effects of Non-GAAP pre-tax adjustments are calculated using the applicable statutory tax rate for the jurisdictions in which the charges are incurred, while taking into consideration any valuation allowances against related deferred tax assets. The tax benefit for the three months ended December 31, 2022 includes a true up from the interim quarters related to valuation allowances against deferred tax assets associated with the loss on equity investments.

细胞因子调节肿瘤微环境中各类免疫细胞，影响抗肿瘤免疫反应。1. IL-1βIL-1β是一种有效的促炎细胞因子，参与调节自身免疫性炎症、促炎反应、细胞增殖和细胞分化。这种细胞因子主要由活化的巨噬细胞产生一种pro-IL-1β 的前蛋白，通过炎性Caspase-1（CASP1/ICE）蛋白水解加工成活性形式IL-1β，随后与IL-1受体CD121a/IL1R1和CD121b/IL1R2亚基结合。其他细胞类型产生和分泌IL-1β，促进肿瘤进展。包括脂肪细胞、单核细胞、DC、成纤维细胞、B细胞、TAMs和一些癌细胞等。Immunity. 2019在TME中，IL-1β在乳腺癌等多种实体瘤中巨噬细胞和肿瘤细胞上调表达，可控制肿瘤侵袭，上调原发肿瘤的发生和发展，增加管腔乳腺癌细胞的侵袭性，并通过NF-κB通路增加IL-6的产生，促进肿瘤生长和侵袭性。IL-1β与乳腺癌等肿瘤的不良预后有关。IL-1β是上游细胞因子，抑制恶性肿瘤中IL-1β信号传导，被认为是癌症治疗的有效策略，IL-1β抑制剂Canakinumab尝试进行了非小细胞肺癌的3期临床（CANOPY-A study），但是没有达到主要终点（DFS）（诺华官网https://www.novartis.com/news/media-releases/novartis-provides-update-phase-iii-canopy-study-evaluating-canakinumab-adjuvant-treatment-non-small-cell-lung-cancer）。但是目前仍有两项肿瘤相关临床研究在进行，一项是哥伦比亚大学的透明细胞性肾细胞癌（NCT04028245）;另一项是M.D. Anderson Cancer Center的肺癌预防性研究（NCT04789681）。2. IL-2IL-2作为T细胞生长因子被发现（IL-2/IL-2R研究简史及药物开发），在肿瘤微环境肿可以促进T细胞（含Treg）活化、扩增。对IL-2的开发，一直是抗肿瘤免疫的热点，走过了很多的弯路，也获得很多经验。最近罗氏的PD1-IL2v成为新的方向（罗氏领衔PD1-IL2，赛诺菲带队PD(L)1-IL15）。3.IL-6IL-6是一种多功能细胞因子和脂肪因子，显然具有促肿瘤和促炎作用。它最初被确定为B细胞刺激因子-2（B cell stimulating factor-2， BSF-2）和免疫球蛋白产生的诱导剂。IL-6促进Th2分化，同时抑制Th1极化，维持Th1和Th2免疫细胞之间的动态平衡，并调节产生IL-17的Th17细胞与Treg之间的平衡。IL-6由非恶性细胞产生，如单核细胞、巨噬细胞、T细胞、B细胞、成纤维细胞、内皮细胞和脂肪细胞。在肿瘤微环境中，其主要来源是一些癌细胞、TAMs、髓源性抑制细胞（MDSC）、Th2细胞和CAFs。IL-6是慢性炎症性疾病、自身免疫性疾病、癌症和肿瘤免疫的主要参与者。IL-6结合其受体，下游通过JAK-STAT、MAPK-ERK和PI3K-Akt通路传递信号，激活转录。其中STAT3信号通路被认为是癌症炎症的主要途径，在恶性细胞中经常被激活，并在调节肿瘤微环境炎症相关关键基因转录中发挥关键作用。癌症炎症对于抗肿瘤起着双重作用，即具有一定抗肿瘤的作用，但是也促进细胞外基质降解，癌症血管新生，内皮细胞激活，癌症细胞迁移能力增强，这些都给癌症进展和转移的提供了良好的生态位。肿瘤微环境中的IL-6的作用（（Nat. Rev. Immunol. 2018）因此，阻断IL-6，以及靶向IL-6-STAT3轴是一种潜在抗肿瘤治疗策略，可能有益于乳腺癌的治疗。目前有多项托珠单抗治疗肿瘤（尤其是乳腺癌）的临床研究在进行。4. IL-7 IL-7 是IL-2之外另外一种T细胞生长因子，可以促进T细胞等多种免疫细胞活化增殖，有助于根除肿瘤。然而，上皮癌可以异常表达 IL-7Rα 和 IL-7，促进炎症，肿瘤细胞增殖，对化疗产生耐受，导致促肿瘤环境形成。5. IL-8IL-8，也称为CXCL8，是一种促炎趋化因子，由单核细胞、巨噬细胞、中性粒细胞、T细胞、成纤维细胞、上皮细胞和血管内皮细胞表达。IL-8被称为中性粒细胞趋化因子，可诱导中性粒细胞和粒细胞募集、脱颗粒和吞噬作用，与肥胖、癌症有关，并可诱导炎症细胞和氧化应激介质募集到局部炎症中以发挥细胞毒性活性。肿瘤微环境中，TAMs、CAFs和一些癌细胞分泌IL-8，可促进多种抑制性免疫细胞（如MDSCs等）募集、增殖和存活，抑制CD8+ T细胞活性，并刺激细胞分泌有助于乳腺癌等进展的其他生长因子。（IL-8促进肿瘤发展，免疫治疗新靶点）IL-8介导肿瘤进展（Pharmacol Ther. 2020 ）使用小分子或抗体阻断CXCL8-CXCR1/2轴，可能会产生抗肿瘤活性。目前还在研的药物是Syntrix Biosystems的SX-682(CXCR1/2抑制剂)，抑制MDSCs招募，联合O药治疗转移性胰腺导管腺癌（NCT04477343）,联合K药治疗治疗转移性黑色素瘤（NCT03161431），单要或联合地西他滨治疗骨髓增生异常综合征（NCT04245397）。6. IL-10IL-10被称为人细胞因子合成抑制因子（ cytokine synthesis inhibitory factor），在免疫调节、感染、炎症、自身免疫、移植和肿瘤发生方面具有多种多效性作用。它通过抑制炎性细胞因子（如 TNF-α、IL-6 和 IL-1）的表达，而具有强效抗炎作用，被认为是肿瘤进展中最重要的免疫抑制细胞因子之一。J Exp Med (2020)一般来说，IL-10主要由Th2、Th1、Treg和Th17产生，也可由CD8+ T细胞、单核细胞、巨噬细胞、DCs、B细胞、肥大细胞、嗜酸性粒细胞、角质形成细胞、上皮细胞甚至一些肿瘤细胞产生。受体IL-10受体是一种双受体复合物，由IL-10受体1（IL-10R1）和IL-10R2的两个拷贝组成。这两个亚基都属于II类细胞因子受体家族。IL-10R1与IL-10形成特异性高亲和力相互作用，而IL-10R2是一种共享的低亲和力受体。DCs、T细胞、B细胞、NK、Treg细胞和肥大细胞表达IL-10R1，而IL-10R2亚基普遍表达。信号通路在人类中，IL-10首先与IL10R1结合，然后该复合物与IL10R2结合，形成异四聚体（两个IL10R1/两个IL10R2），从而组装IL-10R复合物，这是启动IL-10信号通路的第一步。一旦复合物组装，分别与 IL-10R1 和 IL-10R2 相关的 Jak1 和 Tyk2 被激活并磷酸化IL10R1 亚基的细胞内细胞质尾部，导致STAT3和STAT1或STAT5的募集和磷酸化/激活，STAT3与IL-10信号转导最显著相关，驱动阻断各种炎症通路的抗炎介质的表达。肿瘤微环境IL-10 在调节肿瘤免疫反应，取决于 TME 免疫细胞上表达的 IL-10 受体的数量。IL10主要由肿瘤微环境中M2/TAM、淋巴细胞和癌细胞产生和表达，促进肿瘤生长、血管生成、肿瘤逃逸和转移。此外，IL-10水平增加Treg细胞和巨噬细胞分泌另外一种抑制性细胞因子TGF-β。7. IL-12IL-12是异二聚体促炎细胞因子小家族的成员，主要由APC（DC和活化的巨噬细胞）产生和表达。IL-12刺激先天性和适应性免疫的效应细胞，激活巨噬细胞极化为M1型，并增强TME中的抗肿瘤细胞毒性免疫应答。 Immunity 2019IL-12受体由IL-12Rβ1和IL-12Rβ2亚基组成，通常在T细胞、NK细胞、NKT细胞、单核细胞、巨噬细胞和DC群体中表达。IL-12与其在靶细胞上表达的受体结合后，JAK2和TYK2促进STAT4的磷酸化和同源二聚化，活化的STAT4诱导转录因子T-box（T-bet）的转录，控制Th1细胞产生IFN-γ，以募集和募集细胞毒性 NK 和 CD8+ T 细胞。T-bet和STAT4下调RORγt，从而限制了Th17和Treg在肿瘤内的产生和增殖。IL-12促进初始CD8+T细胞分化为效应表型，并作为CD8+ T抗凋亡因子，通过释放穿孔素和蛋白水解酶直接破坏微生物和癌细胞。目前有众多的重组IL-12或者IL-12 mRNA在临床阶段。例如ADV/IL-12 治疗转移性非小细胞肺癌（NCT04911166）；NHS-IL12 治疗卡波西肉瘤（NCT04303117）等。8.IL-15IL-15是另外一个非常有前景的抗肿瘤免疫细胞因子，可以刺激T细胞增殖、产生细胞毒性T淋巴细胞、刺激B细胞合成免疫球蛋白以及NK细胞的产生和持续存活。IL-15 受体包括与IL-2、IL-4、IL-7、IL-15 和 IL-21 共享的 γc亚基，以及与 IL-2 共享的 IL-2Rβ 以及 IL-15 特异性亚基 IL15Rα，该受体通过 JAK1/3 和 STAT5/STAT3 系统发出信号。与 IL-2 相比，IL-15对Tregs没有明显的作用。2022年5月23日，ImmunityBio向FDA递交IL-15超级激动剂N-803的上市申请，与卡介苗联合治疗卡介苗不响应的非肌肉浸润性膀胱癌（NMIBC），前期数据显示CR可达70%以上，后因CMO存在问题而上市受阻，目前重新递交上市申请。9. IL-17AIL-17A是参与过敏反应相关的促炎细胞因子。在人类中，IL-17A水平升高与感染、抗菌免疫、慢性炎症性疾病、肥胖和自身免疫性疾病有关。（IL-17与肿瘤免疫，敌人or朋友？）IL-17产生细胞除了经典的Th17细胞之外，现在IL-17产生细胞已经拓展至更大的群体，包括：Th17细胞IL-17+CD8+T细胞γδT17细胞Th1细胞NK细胞中性粒细胞巨噬细胞部分内皮细胞IL-17与肿瘤免疫IL-17来源广泛，因而在抗肿瘤免疫中，作用多样，概括起来，还是同时具有抗肿瘤活性和促肿瘤进展的作用。IL-17产生细胞与肿瘤免疫（Immune Netw. 2020）乳腺微环境中高水平的IL-17A与乳腺癌的高度侵袭性和侵袭性表型有关。IL-17A诱导ERK1/2磷酸化、p38 MAPK和STAT3（IL-6-STAT3）信号通路的激活，并促进肿瘤生长、组织侵袭、组织重塑和基质降解物质（如MMP，包括MMP2和MMP9、迁移、抑制细胞凋亡和血管生成（通过激活VEGF和CXCL8表达）。10.IL-21IL21使用共同的 γc 及其细胞因子特异性 IL-21Rα 链, 调节先天性和适应性免疫反应。IL-21 在 B 细胞分化为浆细胞和T 滤泡辅助细胞 （Tfh） 的发育中起主要作用; 诱导CD8+ T、NK 细胞激活、抗病毒活性和抗肿瘤活性增强; 可以促进Th17细胞的发育。IL-21R 已被证明在多种造血恶性肿瘤中表达。在慢性淋巴细胞白血病 （CLL）、滤泡性淋巴瘤、弥漫性大 B 细胞淋巴瘤 （DLBCL） 和套细胞淋巴瘤。鉴于其增强 CD8+ T 细胞和 NK 细胞细胞毒性活性的能力，IL-21 已被评估用于治疗癌症。11.IL-23IL-23 是一种异二聚体促炎细胞因子，属于 IL-12 细胞因子家族。这两者有一个共同的p40亚基，该亚基与p35亚基共价连接形成IL-12，或与p19亚基共价连接形成IL-23。它是Th17细胞分化、维持和扩增的关键细胞因子。IL-23主要由DC和巨噬细胞产生，但也由单核细胞、中性粒细胞、先天淋巴细胞、γδ T细胞、B细胞和M2/TAM细胞产生。异二聚体IL-23细胞因子受体由IL12Rβ1（IL-12受体）和IL-23R组成，前者通过酪氨酸激酶-2（tyrosine kinase-2， TYK2）发出信号，后者通过JAK2发出信号以激活STAT3。IL-23受体可在T细胞、NK细胞、NKT细胞、肿瘤细胞中表达，在单核细胞、巨噬细胞和DC细胞群中表达较弱。IL-23 被确定参与肿瘤相关炎症与肿瘤免疫逃逸，可直接影响多种癌前病变和恶性肿瘤。IL-23参与乳腺癌细胞转移，并与较高的乳腺癌肿瘤大小和分期有关。12. IFN-γIFN-γ因其干扰病毒生长的能力而得名，是一种多能细胞因子，在免疫调节、抗微生物/抗病毒宿主防御、过敏、自身免疫性疾病、肥胖和抗肿瘤免疫中发挥有争议的作用。它增强了对炎症分子（TLR配体和TNF）的反应、NK细胞的细胞毒性功能以及M1巨噬细胞的数量，以提供吞噬活性。它是先天免疫应答中的重要自分泌信号，也是适应性应答中的旁分泌信号。在炎症期间，CD4+ Th1细胞是IFN-γ的主要来源，可促进Th1和NK细胞产生IFN-γ。IFN-γ通过促进初始CD4+ T细胞分化为Th1和Th2细胞，增加CD8+ T细胞的杀伤能力并减少Tregs的增殖，触发促炎反应的激活。在DC中，IFN-γ信号通路有助于其成熟、IL-12、IL-1β的产生以及CD4+和CD8+ T细胞的活化。在 TME 中，IFN-γ 的浓度决定了其功能是抗肿瘤还是促肿瘤。高剂量IFN-γ刺激JAK-STAT1信号转导，并可诱导癌细胞死亡和凋亡。然而，宿主浸润细胞或免疫治疗期间在肿瘤部位产生的低剂量IFN-γ可提高肿瘤细胞存活率，通过激活癌细胞中的ICAM1-PI3K-Akt-Notch1信号转导诱导转移风险和EMT转录因子表达。13. TNF-αTNFα 是一种主要的炎性细胞因子和脂肪因子，在高浓度存在时被描述为出血性肿瘤坏死的循环和内毒素诱导因子。它主要由巨噬细胞产生，少部分由 B 和 T（细胞毒性 CD8+ 和 CD4+ Th1）细胞、NK 细胞、肥大细胞、成纤维细胞、破骨细胞、内皮细胞和肌肉细胞产生。它既可以作用于自分泌信号转导，也可以作用于旁分泌信号转导。一般来说，作为一种脂肪因子，它与肥胖有关，促进胰岛素抵抗和2型糖尿病。它参与促炎反应的产生，因为它可以激活和上调400多个炎症基因，并刺激许多不同的细胞反应。TNFα参与乳腺癌细胞存活和/或增殖、促肿瘤、侵袭性、促肿瘤巨噬细胞浸润、CAF表型、炎性趋化因子表达（如C-X-C基序配体8（CXCL8/IL-8））和血管生成，其过度表达通常与侵袭性癌症行为和不良预后有关。TNFα 和 IL-1β 是 TME 中常见的促炎细胞因子。因此，阻断TNFα或其受体可能具有显著的抗肿瘤作用。14. GM-CSFGM-CSF 是一种 23 kDa 的糖蛋白，与由 1 型细胞因子受体家族亚基组成的异二聚体受体结合。GM-CSF 是活化的 T 淋巴细胞、成纤维细胞、内皮细胞、巨噬细胞和基质细胞的产物。GM-CSF 刺激中性粒细胞、嗜酸性粒细胞、巨噬细胞、巨核细胞和红系细胞系的造血集落形成细胞的存活。GM-CSF刺激抗原呈递给免疫系统，诱导巨噬细胞和 DC 上 II 类 MHC 和 Fc 受体的表达。GM-CSF 刺激中性粒细胞、单核细胞和巨噬细胞介导 ADCC 的能力。GM-CSF在抗肿瘤临床研究阶段，用于治疗黑色素瘤、神经母细胞瘤等。15. TGF-βTGF-β配体几乎由所有细胞类型分泌，包括上皮细胞、成纤维细胞和免疫细胞，它们无活性并储存在肿瘤微环境。 TGF-β信号转导可以抑制良性细胞的细胞生长，但促进癌细胞生长。在良性细胞中，TGF-β可诱导细胞周期停滞、分化、细胞凋亡和自噬，上皮细胞分泌的TGF-β可以抑制基质成纤维细胞和炎症细胞中旁分泌因子的产生。然而，一旦良性细胞转化为癌细胞，TGF-β信号转导通过调节免疫逃逸、纤维化和上皮-间充质转化（EMT）来促进癌症进展。（TGF-β抑制8类免疫细胞--作用重要，成药困难。）参考文献Alberto Mantovani et al, Interleukin-1 and Related Cytokines in the Regulation of Inflammation and Immunity,Immunity. 2019 Apr 16;50(4):778-795. doi: 10.1016/j.immuni.2019.03.012.Jones, S.A.; Jenkins, B.J. Recent Insights into Targeting the IL-6 Cytokine Family in Inflammatory Diseases and Cancer. Nat. Rev. Immunol. 2018, 18, 773–789Kristen Fousek et al，Interleukin-8: A chemokine at the intersection of cancer plasticity, angiogenesis, and immune suppression，Pharmacol Ther. 2020 Sep 24;107692.Margarida Saraiva, Paulo Vieira，Anne O’Garra，Biology and therapeutic potential of interleukin-10，J Exp Med (2020) 217 (1): e20190418.https://doi.org/10.1084/jem.20190418Tait Wojno, E.D.; Hunter, C.A.; Stumhofer, J.S. The Immunobiology of the Interleukin-12 Family: Room for Discovery. Immunity 2019, 50, 851–870Da-Sol Kuen et al，IL-17-Producing Cells in Tumor Immunity: Friends or Foes? Immune Netw. 2020 Feb;20(1):e6本周好文推荐如需转载请联系佰傲谷并在醒目位置注明出处﹀ ········

Company’s T-MASK platform demonstrates ability to maximize anti-tumor efficacy and minimize systemic toxicity, and opportunities to explore broad range of cytokines and other potent therapeutics MDNA113 is a first-in-class IL-13R⍺2 targeted therapy that delivers a masked bi-specific IL-2-AntiPD1 Superkine to the tumor micro-environment where it is activated by cancer specific enzymes IL-13Rα2 is overexpressed by some of the most immunologically “cold” tumors with high unmet needs in pancreatic, liver, brain, breast and prostate cancer that annually affect over 2 million patients TORONTO and HOUSTON, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Medicenna Therapeutics Corp. (“Medicenna” or the “Company”) (TSX: MDNA), a clinical-stage immunotherapy company focused on the development of Superkines, today announced new preclinical data demonstrating proof of concept for the Company’s novel T-MASK (Targeted Metallo/protease Activated SuperKine) platform technology with the Company’s development candidate, MDNA113, at the 38th Annual Meeting of the Society for Immunotherapy of Cancer (“SITC”) held in San Diego, CA, from November 1-5, 2023. “We are pleased to show preclinical data demonstrating the ability of our T-MASK platform to enhance tumor specific accumulation, increased anti-tumor activity while improving the safety profile of potent immune modulators such as Medicenna’s bispecific IL-2-AntiPD1 Superkine,” said Fahar Merchant, Ph.D., President and Chief Executive Officer of Medicenna. “The results presented today demonstrates proof of concept with MDNA113, our first T-MASK candidate specifically designed to deliver bispecific IL-2-antiPD1 Superkine to cancers that express the tumor associate antigen, IL-13R⍺2. This is an important advance for cancer immunotherapy as the IL13Ra2 target is linked to aggressive cancers that annually affect over 2 million patients world-wide.” The Company selected MDNA113, a novel, first-in-class tumor-targeted and tumor-activated bi-specific antiPD1-IL-2 Superkine as its first development candidate using the T-MASK platform. MDNA113 has high selectivity and affinity for the IL-13 decoy receptor IL-13Rα2, a tumor associated antigen expressed by many aggressive solid tumors. MDNA113 is fused via a protease sensitive linker (“PSL”) to MDNA223, containing a not-alpha, beta-enhanced IL-2 Superkine fused to anti-PD1 antibody. Key findings include: T-MASK platform integrates tumor targeting and prolonged tumor retention with conditional activation to maximize anti-tumor efficacy and minimize systemic toxicityMDNA113 shows reduced IL-2R agonism with no change to PD1/PDL-1 blockadeMDNA113 reduces systemic lymphocyte expansion showing dampening of systemic activityCleavage of MDNA113 by tumor associated metalloproteases restores IL-2R signaling.MDNA113 is as effective as non-masked MDNA223 (a bispecific antiPD1-IL-2 superkine) in tumor models. Unlike other conditionally activated immunotherapies, the T-MASK platform has the following unique features: The IL-13 Superkine, engineered to bind with high affinity to the tumor associated antigen IL-13R⍺2, is used both as a tumor targeting component and a masking agent.The level of masking is tunable and avoids complete blockade of the immune-modulator thereby retaining good tolerability while achieving adequate systemic activity during its transit to the tumor micro-environment (TME)Upon delivery to the TME, the IL-13 Superkine traps the immune-modulator within the tumor for a prolonged period, allowing adequate time for metalloproteases to cleave the protease sensitive linker (“PSL”) and activate the long-acting immune-modulatorCombining modest systemic immune simulation with potent immune activation within the TME, could provide better outcomes for patients with immunosuppressive tumors. A copy of the poster will be posted to the “Events and Presentations” page of Medicenna’s website following the conclusion of the meeting. Details on the in-person poster presentation are shown below. Title: Characterization of a tumor-targeting and activatable T-MASK platform to enhance tumor accumulation and tolerability of potent immune modulatorsPoster Number: 1071Presentation Date: Friday, November 3, 2023, 9:00 am to 7:00 pm PDT About Medicenna Medicenna is a clinical-stage immunotherapy company focused on developing novel, highly selective versions of IL-2, IL-4 and IL-13 Superkines and first in class class-empowered superkines. Medicenna’s long-acting IL-2 Superkine, MDNA11, is a next-generation IL-2 with superior CD122 (IL-2 receptor beta) binding without CD25 (IL-2 receptor alpha) affinity thereby preferentially stimulating cancer-killing effector T cells and NK cells. Medicenna’s IL-4 Empowered Superkine, bizaxofusp (formerly MDNA55), has been studied in 5 clinical trials, including a Phase 2b trial for recurrent GBM, the most common and uniformly fatal form of brain cancer. Bizaxofusp has FastTrack and Orphan Drug status from the FDA and FDA/EMA, respectively. Medicenna’s BiSKITs™ (Bifunctional SuperKine ImmunoTherapies) and T-MASK (Targeted Metalloprotease Activated SuperKines) programs are in pre-clinical development designed to enhance the ability of Superkines to treat immunologically “cold” tumors. Forward-Looking Statements This news release contains forward-looking statements within the meaning of applicable securities laws that relate to the future operations of the Company, plans and projections and other statements that are not historical facts, including, without limitation, statements on the clinical development and potential of MDNA113 and the Company’s T-MASK platform. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expect”, “believe”, “seek”, “potentially” and similar expressions and are subject to risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the risks detailed in the latest Annual Report on Form 20-F of the Company and in other filings made by the Company with the applicable securities regulators from time to time in Canada and the United States.The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date hereof and except as required by law, we do not intend and do not assume any obligation to update or revise publicly any of the included forward-looking statements. Investor ContactArgot PartnersPhone: 212-600-1902medicenna@argotpartners.com