New York-based Intercept Pharmaceuticals, Inc. focuses on the development and commercialization of therapies for the treatment of chronic liver and intestinal diseases.

In May 2016, Intercept’s lead drug, Ocaliva, was granted accelerated approval in the U.S., in combination with UDCA, for the treatment of primary biliary cholangitis (PBC) – previously known as primary biliary cirrhosis – in adults with inadequate response to UDCA or as monotherapy in adults who are intolerant to UDCA.

The FDA has approved Ocaliva under its accelerated approval program based on a reduction in alkaline phosphatase (ALP), since an improvement in survival or disease-related symptoms has not been established yet.

Continued approval in this indication may be contingent upon the verification and description of clinical benefit in confirmatory studies.

Currently, Intercept Pharma has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Our consensus called for a loss of $3.76, while the company reported a loss of $3.14.

Revenue: Intercept Pharma posted revenues of $5.5 million compared to our consensus estimate of $0.61 million.

Key Stats: Intercept launched Ocaliva in June 2016 and the initial uptake of the drug has been encouraging.

INTERCEPT PHARM Price

INTERCEPT PHARM Price | INTERCEPT PHARM Quote

Check back later for our full write up on earnings report later!

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