ICPT - Intercept sees $343M adj. net sales in 2022

• Ahead of its presentation at the J.P. Morgan Annual Healthcare Conference, liver drugmaker Intercept Pharmaceuticals ( NASDAQ: ICPT ) pre-announced its financials for 2022 on Wednesday, indicating ~$343M non-GAAP adjusted net sales for the year.
• New York-based biotech markets Ocaliva (obeticholic acid or “OCA”) for primary biliary cholangitis in the U.S. and overseas, and the farnesoid X receptor leads the company’s revenue generation.
• The company also disclosed that its U.S. Ocaliva net sales for 2022 and Q4 reached ~$285M and ~$77M, respectively.
• Wall Street expects Intercept ( ICPT ) to report ~$322.9M and ~$81.5M in revenue for 2022 and Q4 2022, respectively.
• In May, Intercept ( ICPT ) agreed to a licensing deal with Europe-based Advanz Pharma ( OTCPK:CXRXF ) to sell commercialization rights for Ocaliva outside the U.S. for $450M.
• Following the company’s Q3 results in November, Seeking Alpha contributor Clinically Sound Investor noted improving sales trends for Intercept’s ( ICPT ) revenue and progress in its pipeline.

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