Intercept Pharmaceuticals, Inc (ICPT) saw its loss narrow to $89.93 million, or $3.61 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $126.67 million, or $5.17 a share. Revenue during the quarter surged 4,629.89 percent to $21.05 million from $0.44 million in the previous year period.
Operating loss for the quarter was $83.96 million, compared with an operating loss of $127.40 million in the previous year period.
“I’m very pleased with our commercial and development progress thus far in 2017, and look forward to building on the positive momentum as a leader in progressive non-viral liver disease,” said Mark Pruzanski, M.D., President and Chief executive officer of Intercept. “In the U.S., we have seen strong execution on our launch plans for Ocaliva, as evidenced by steady quarter over quarter growth. In Europe, we remain focused on market access and are enthusiastic about the rapid reimbursement decision for Ocaliva from the highly regarded UK regulatory body NICE.”
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