ICPT - Intercept Pharma rises 12% on strong Q3 sales of Ocaliva therapy

• Intercept Pharma ( NASDAQ: ICPT ) is trading ~12% higher after the company raised Ocaliva adjusted net sales guidance and posted a 16% rise in quarterly profit, helped by strong sale of Ocaliva treatment
• Primary biliary cholangitis treatment Ocaliva net sales in the U.S. rose 16.4% to $77.6M.
• The company said it remains on track to resubmit new drug application for obeticholic acid in liver fibrosis due to NASH by end of 2022 based on the positive Phase 3 Regenerate study.
• The company increased 2022 Ocaliva non-GAAP adjusted net sales guidance to $340M to $350M from $325M to $345M.
• Research & Development Expenses fell 1.5% to $44M.
• Company has cash, cash equivalents, restricted cash, and investment debt securities available for sale of $497.8 million.

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