Intercept Pharmaceuticals Announces Q4 Earnings

Friday, March 14th, 2014, Intercept Pharmaceuticals

announced its fourth quarter and 2013 financial results and provided an update on key development programs. Cash equivalents and investment securities totaled about $144.8 million, which compared to $110.2 million on December 31st, 2012. The $34.6 million increase was mainly because of $61.2 million from a public equity offering and $4.9 million received from exercise of warrants and options offset by $28.0 million in cash outflows from operations and $1.6 million expended in net additions to fixed assets. Net loss attributable to common stockholders for the full year 2013 was $67.8 million, or $3.76 per share, compared to a net loss of $46.3 million, or $7.36 per share, for the full year 2012. During 2013 the Company increased its expenditures in the OCA program by $6.0 million and increased its cash compensation expenses by $3.3 million, primarily due to an overall increase in the personnel base by 19 employees.