Intercept Pharma (ICPT) Tops Q2 EPS by 26c, Revenues Beat

Intercept Pharma (NASDAQ: ICPT) reported Q2 EPS of ($2.58), $0.26 better than the analyst estimate of ($2.84). Revenue for the quarter came in at $43.58 million versus the consensus estimate of $41.19 million.

its financial results for the quarter ended June 30, 2018.

“During the first half of 2018, we made good progress executing against our key strategic priorities in our Phase 3 NASH program and our PBC commercial efforts,” said Mark Pruzanski, M.D., President and Chief Executive Officer of Intercept. “Our leadership position in NASH is supported by what we believe to be the most comprehensive dataset of any ongoing development program and we remain on track to report top line data from the Phase 3 REGENERATE trial in first half of 2019. On the commercial front, the expansion of our U.S. sales and commercial infrastructure is expected to further enhance our capacity to provide access to Ocaliva to eligible PBC patients and the healthcare providers who treat them.”

Based on our second quarter results and our current outlook for the remainder of 2018, we are confirming our previously announced 2018 Ocaliva net sales guidance range of between $170 million and $185 million. In addition, we are confirming our previously announced 2018 non-GAAP adjusted operating expenses guidance range of between $390 million and $410 million. See “Non-GAAP Financial Measures” below. A quantitative reconciliation of projected non-GAAP adjusted operating expenses to total operating expenses is not available without unreasonable effort primarily due to our inability to predict with reasonable certainty the amount of future stock-based compensation expense.

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

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