Intercept Pharma (ICPT) Tops Q2 EPS by $1.00, Revenues Beat

Intercept Pharma (NASDAQ: ICPT) reported Q2 EPS of ($1.92), $1.00 better than the analyst estimate of ($2.92). Revenue for the quarter came in at $77.2 million versus the consensus estimate of $72.15 million.

“Our PBC business achieved its highest quarterly net sales to date in the second quarter,” said Mark Pruzanski, M.D., President and Chief Executive Officer of Intercept. “We plan to continue to invest in our growing PBC business and announced 2020 Ocaliva net sales guidance earlier this morning. We anticipate that our Ocaliva net sales, together with the announced reduction in our 2020 non-GAAP adjusted operating expense guidance, will help to ensure that we are financially well positioned to support the path forward in NASH. In the meantime, we are preparing to meet with the FDA to discuss the basis for resubmission of our NDA seeking accelerated approval of OCA for the treatment of advanced fibrosis due to NASH, and continue to believe that OCA has the potential to become the foundational treatment for these patients. I am encouraged by the outpouring of support we have received from the liver community in recent weeks and we remain committed to our goal of bringing the first therapy to market for patients with this serious condition.”

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

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