Intercept Pharmaceuticals (ICPT) Stock: Flying On Financial Results

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Intercept Pharmaceuticals Inc (NASDAQ: ICPT) is flying early on in the trading session this morning, and for good reason. The company announced its financial results for the fourth quarter and full year, exciting investors and sending the stock for the top. Today, we’ll talk about:

  • The financial results;
  • what we’re seeing from ICPT stock as a result; and
  • what we’ll be watching for ahead.

ICPT Announces Financial Results

As mentioned above, Intercept Pharmaceuticals is having an incredibly strong start to the trading session this morning. The gains are the result of the company’s positive financial results. Here’s what we saw from the report:

  • Q4 Revenue – In terms of revenue, ICPT did overwhelmingly well. During the fourth quarter, the company generated $53.3 million. That compares well to the $37.3 million in the prior year.
  • Full Year Revenue – For the year 2018, the company generated revenue in the amount of $179.8 million. That figure proved strong growth over the $131 million generated in 2017.
  • Net Loss – ICPT said that it generated a loss of $88 million in the fourth quarter and $309.2 million for the full year. Net losses are shrinking. Last year, the net loss came in at $360.4 million and Q4 2017 losses were $111.3 million.
  • Guidance – Finally, the company said that it is expecting 2019 Ocaliva net sales to range between $225 and $240 million. The company expects for operating expenses to come in between 4450 and $470 million.

In a statement, Mark Pruzanski, M.D., President and CEO at ICPT, had the following to offer:

This past year was a great year of execution against our key strategic priorities in our Phase 3 NASH program and our PBC commercial efforts. We were thrilled to recently report positive topline data from our pivotal Phase 3 REGENERATE study, with OCA clearly meeting the study’s primary objective by demonstrating its anti-fibrotic benefit in patients with NASH, truly a first in the field. We intend to file for regulatory approval in the U.S. and Europe in the second half of this year and believe that the REGENERATE results support our long-held conviction that OCA will become the first approved medicine and backbone therapy for those living with liver fibrosis due to NASH. This underscores our ongoing commitment to drive scientific innovation to address the unmet medical needs of patients with progressive non-viral liver diseases, both large and small.

What We’re Seeing From The Stock 

One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Intercept Pharmaceuticals, the news proved to be overwhelmingly positive.

With strong revenue growth and shrinking losses, as well as guidance for more of the same, investors are excited. So, it’s not surprising to see that the stock is running for the top.

As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:40), ICPT is trading at $105.06 per share after a gain of $12.29 per share or 13.25% thus far today.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to keep a close eye on ICPT. In particular, we’re interested in following the story surrounding the company’s continued work to expand sales while reducing costs. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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