Intercept Pharmaceuticals Announces Q4 Earnings
Friday, March 14th, 2014, Intercept Pharmaceuticals (NASDAQ: ICPT) 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.
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