Intercept Pharmaceuticals, Inc. (ICPT) is a New York-based clinical-stage biopharmaceutical company focused on the development and commercialization of therapies for the treatment of chronic liver and intestinal diseases.
With no approved products in its portfolio, Intercept Pharma earns revenues from collaborative agreements for the development and commercialization of some of its candidates. In this scenario, investor focus remains on updates on pipeline candidates and their commercial potential in addition to the usual bottom-line numbers.
Currently, Intercept Pharma is making efforts to gain approval for its lead candidate, obeticholic acid (OCA) in the U.S. and Europe for the treatment of primary biliary cirrhosis (PBC). Other candidates in its pipeline include INT-767 and some pre-clinical programs.
Intercept Pharma has a disappointing track record with the company delivering negative surprises in three of the last four quarters. However, the company maintained an average positive surprise of 13.61%. Some analysts are lowering their estimates for 2015.
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: Intercept Pharma posted narrower-than-expected loss. Our consensus called for a loss of $1.53, while the company reported a loss of 72 cents (these figures take out stock option expenses).
Revenue: Intercept Pharma posted licensing revenues of $405 million. According to the Zacks Consensus Estimate, the company was not expected to record any revenues this quarter.
Key Stats: In 2014, Intercept Pharma focused its investments in the OCA development program. The company is planning to submit a new drug application and marketing authorization application for OCA for the treatment of PBC during the first half of 2015. The company has not provided further pipeline update with its 2014 financial results.
2015 Outlook: For 2015, Intercept Pharma expects adjusted operating expenses in the range of $180 million – $200 million (excluding stock-based compensation and other non-cash items).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment