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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 VQWFwmhgrFsOYRTOMzDMQluQLcfLcS9Pw3QHiMs/pG2pOPpraXU4gpNd6DJ8AhO5
 ds6XXfwUvl5Zj8Hfi2xxhQ==

<SEC-DOCUMENT>0001256071-05-000007.txt : 20051005
<SEC-HEADER>0001256071-05-000007.hdr.sgml : 20051005
<ACCEPTANCE-DATETIME>20051004192116
ACCESSION NUMBER:		0001256071-05-000007
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20051005
DATE AS OF CHANGE:		20051004

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INCYTE CORP
		CENTRAL INDEX KEY:			0000879169
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731]
		IRS NUMBER:				943136539
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-42713
		FILM NUMBER:		051123239

	BUSINESS ADDRESS:	
		STREET 1:		ROUTE 141 & HENRY CLAY ROAD
		STREET 2:		BUILDING E336
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19880
		BUSINESS PHONE:		3024986700

	MAIL ADDRESS:	
		STREET 1:		ROUTE 141 & HENRY CLAY ROAD
		STREET 2:		BUILDING E336
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19880

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INCYTE CORP
		DATE OF NAME CHANGE:	20030318

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INCYTE GENOMICS INC
		DATE OF NAME CHANGE:	20000710

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INCYTE PHARMACEUTICALS INC
		DATE OF NAME CHANGE:	19930902

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PLATINUM ASSET MANAGEMENT LTD
		CENTRAL INDEX KEY:			0001256071
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		C/O PLATINUM ASSET MANAGEMENT
		STREET 2:		LEVEL 4, 55 HARRINGTON ST
		CITY:			SYDNEY AUSTRALIA 2000
		STATE:			C3
		ZIP:			00000
		BUSINESS PHONE:		01161292557525

	MAIL ADDRESS:	
		STREET 1:		C/O PLATINUM ASSET MANAGEMENT
		STREET 2:		LEVEL 4, 55 HARRINGTON ST
		CITY:			SYDNEY AUSTRALIA 2000
		STATE:			C3
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>incyte1.txt
<TEXT>
Item 1.

(a)  Incyte Corp

(b) 	Route 141 & Henry Clay Rd
      Building E336, Wilmington, Delaware 19880

Item 2.

(a) Platinum Asset Management Limited

(b)  Level 4, 55 Harrington St
Sydney NSW 2000
Australia
(c) Australia
(d) Common Stock
(e) 45337C102

Item 3.
N/A

Item 4.

(a) 5,358,030
(b) 6.4%
(c) (i) 5,358,030
(ii) 0
(iii) 5,358,030
(iv) 0

Item 5
No

Item 6
No

Item 7
N/A

Item 8
N/a

Item 9
N/A



Item 10
(a) N/A
(b) By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any transaction
having that purpose or effect.



After reasonable inquiry and to the best of my
Knowledge and belief, I certify that the information
set forth in this statement is true, complete and correct.




</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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