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Biotech / Medical : Incyte (INCY) -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (1192)	10/19/1999 5:20:00 PM
From: biowa	Respond to of 3202

In Rocketman's absence: Almost exactly as predicted. So much for the Gordon Binder school of earnings report management... PALO ALTO, Calif., Oct. 19 /PRNewswire/ -- Incyte Pharmaceuticals, Inc. (Nasdaq: INCY) today reported revenues of $35.4 million for the quarter ended September 30, 1999, compared to $34.7 million for the quarter ended September 30, 1998. Revenues were $110.9 million for the nine-month period ended September 30, 1999, compared to $98.2 million for the same period in 1998. Incyte reported a net loss of $11.1 million, or $0.39 per diluted share, for the quarter ended September 30, 1999, compared to a net loss of $6.8 million, or $0.25 per diluted share, for the quarter ended September 30, 1998. For the nine months ended September 30, 1999, Incyte reported a net loss of $20.4 million, or $0.73 per diluted share, compared to net income of $2.0 million, or $0.07 per diluted share, for the same period in 1998. For the quarter ended September 30, 1999, database revenues were $28.1 million. Microarray service revenues were $3.6 million, reagent revenues generated by the Company's genomic services subsidiary were $2.1 million, and other revenues were $1.6 million. Operating expenses increased to $45.9 million for the quarter ended September 30, 1999, compared to $42.6 million for the same period in 1998. For the nine-month period ended September 30, 1999, operating expenses were $131.1 million compared to $98.9 million for the same period in 1998. During the quarter, Incyte expanded its partnerships with Genentech, Rhone-Poulenc Rorer and Schering AG to include access to the Company's flagship product, LifeSeq(R) Gold. Incyte also announced its first academic partnership with the Huntsman Cancer Institute, which includes access to LifeSeq Gold. Earlier this month, Incyte finalized an expanded agreement with AstraZeneca which included the first subscription to LifeExpress(TM), Incyte's expression database product suite. On October 5th, Incyte announced a new database agreement with Millennium for access to LifeSeq Gold. To date, Incyte has filed patent applications covering approximately 6,300 full-length genes. Incyte was issued 79 new U.S. patents covering full-length genes during the second quarter, bringing to 285 the total number of full-length gene patents issued to the Company. Incyte has also received notices of allowance on an additional 173 full-length gene patents.