Intercept Pharmaceuticals, Inc. (ICPT) saw its loss widen to $120.04 million, or $4.84 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $88.25 million, or $3.62 a share. Revenue during the quarter surged 3,003.15 percent to $13.81 million from $0.44 million in the previous year period.
Operating loss for the quarter was $114.01 million, compared with an operating loss of $88.89 million in the previous year period.
"2016 was a truly momentous year for Intercept, marked by the U.S. and European approvals of Ocaliva for the treatment of primary biliary cholangitis (PBC)," said Mark Pruzanski, M.D., president and chief executive officer of Intercept. "We successfully transitioned to a commercial organization with our U.S. launch for PBC in June 2016 that generated net sales of $18.2 million for the year, while making solid progress in our clinical development programs."
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