Intercept Pharma (ICPT) Tops Q3 EPS by 23c

November 3, 2016 7:09 AM EDT
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Intercept Pharma (NASDAQ: ICPT) reported Q3 EPS of ($3.59), versus the analyst estimate of ($3.82). Revenue for the quarter came in at $4.7 million versus the consensus estimate of $4.77 million.

For the three months ended September 30, 2016, Intercept reported a net loss of $88.8 million. GAAP operating expense for the three months ended September 30, 2016 was $88.2 million. Non-GAAP adjusted operating expense1 for the three months ended September 30, 2016 was $75.0 million, which excludes non-cash stock-based compensation expense of $12.5 million and depreciation expense of $0.6 million.

Ocaliva Commercial Update

Net U.S. Ocaliva sales for the quarter were $4.7 million.

Ocaliva was approved by the U.S. Food and Drug Administration (FDA) on May 27, 2016 for the treatment of PBC in combination with ursodeoxycholic acid (UDCA) in adults with an inadequate response to UDCA or as monotherapy in adults unable to tolerate UDCA. Intercept launched Ocaliva in the United States in June 2016 and in conjunction launched Interconnect®, a comprehensive, personalized program that connects patients with dedicated Care Coordinators who help them understand their disease and provides treatment support and, for eligible patients, financial assistance options.

For earnings history and earnings-related data on Intercept Pharma (ICPT) click here.

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