MORRISTOWN, N.J. (AP) — MORRISTOWN, N.J. (AP) — Intercept Pharmaceuticals Inc. (ICPT) on Thursday reported a loss of $20.8 million in its fourth quarter.
On a per-share basis, the Morristown, New Jersey-based company said it had a loss of 50 cents. Losses, adjusted to account for discontinued operations, were 42 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 53 cents per share.
The drugmaker posted revenue of $77.2 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $76.9 million.
For the year, the company reported net income of $221.8 million, or $6.56 per share, swinging to a profit in the period. Revenue was reported as $285.7 million.
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