11 Best Performing Biotech Stocks So Far in 2025

7. Incyte Corporation (NASDAQ:INCY)

Year-to-Date Performance: 25.32% 

Incyte Corporation (NASDAQ:INCY), a global biopharmaceutical company based in Wilmington, Delaware, is strengthening its position as a leader in oncology and autoimmune therapies. With a focus on translating cutting-edge science into patient-ready treatments, the business is making notable strides in 2025 through regulatory approvals and pipeline innovation.

This year, Incyte Corporation (NASDAQ:INCY) secured FDA approvals for Zynyz in squamous cell anal carcinoma and Monjuvi in follicular lymphoma, reinforcing its hematology-oncology franchise. At the same time, positive Phase 1 results for INCA033989 in essential thrombocythemia have advanced its presence in myeloproliferative neoplasms, while upcoming presentations at the ESMO Congress 2025 are set to highlight early data for two promising assets: a bispecific antibody targeting TGFβR2×PD-1 and a novel KRAS inhibitor.

The KRAS program, in particular, is generating strong attention. KRAS mutations are among the most common drivers of cancer but have historically resisted targeted treatment. Incyte’s experimental oral inhibitor, INCB161734, is designed to address G12D-mutated KRAS, one of the most challenging forms. This innovation has helped Incyte emerge among the best performing stocks in oncology, with Phase 1 results expected at ESMO, potentially providing the first clinical proof of concept, positioning Incyte Corporation (NASDAQ:INCY) as a pioneer in a new frontier of cancer drug development.