Intercept Pharma (ICPT) Posts Smaller-than-Expected Q2 Loss as Sales Beat

Intercept Pharma (NASDAQ: ICPT) reported Q2 EPS of ($3.46), $0.18 better than the analyst estimate of ($3.64). Revenue for the quarter came in at $30.89 million versus the consensus estimate of $27.49 million.

“I’m very pleased with our commercial performance to date and continued momentum as a leader in progressive non-viral liver disease,” said Mark Pruzanski, M.D., President and CEO of Intercept. “In the U.S., we have seen strong execution in the first year of our Ocaliva launch, with steady quarter over quarter growth. In Europe and Canada, we remain focused on securing reimbursement and are pleased with initial uptake in our early access markets.”

“Today we also announced exciting topline results from two important Phase 2 trials,” added Dr. Pruzanski. “In AESOP, our Phase 2 trial in primary sclerosing cholangitis (PSC), OCA met the primary endpoint of statistically significant reduction in alkaline phosphatase (ALP), a clinically important biomarker in this aggressive cholestatic liver disease. And in CONTROL, we achieved our objective in demonstrating that the lowest available dose of atorvastatin rapidly reverses OCA associated LDL changes to below baseline levels in nonalcoholic steatohepatitis (NASH) patients with fibrosis or cirrhosis.”

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

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