Intercept Pharma beats by $0.51, beats on revs
- Reports Q3 (Sep) loss of $2.89 per share, $0.51 better than the Capital IQ Consensus of ($3.40); revenues rose 697.9% year/year to $41.33 mln vs the $36.95 mln Capital IQ Consensus.
- Intercept projects non-GAAP adjusted operating expenses for the fiscal year ending December 31, 2017 will fall in the middle of the previously guided range of $380 million to $420 million. This guidance excludes non-cash items such as stock-based compensation and depreciation.
- These expenses are planned to support the continued commercialization of Ocaliva in PBC in the United States and other markets and the continued development for OCA in PBC, NASH, PSC and biliary atresia.
- In order to streamline operating expenses, Intercept has decided to deprioritize its INT-767 development program for the foreseeable future.