Intercept Pharma Reports Q2 Profit On Non-cash Gain - Quick Facts

(RTTNews) - Intercept Pharmaceuticals, Inc. (ICPT) reported second-quarter net income of $33.47 million or $1.51 per share, compared to a loss of $13.48 million or $0.79 per share, a year ago. Included in net income for the second quarter of 2014 is a $55.8 million non-cash gain recorded for the revaluation of all outstanding warrants which were exercised in April 2014.

On average, nine analysts polled by Thomson Reuters expected the company to report a loss per share of $0.12 for the quarter. Analysts' estimates typically exclude special items.

Licensing revenue increased to $445 thousand from $405 thousand, prior year. Analysts expected revenue of $400 thousand for the quarter.