Intercept Pharmaceuticals FY23 Outlook Sees Ocaliva Net Sales Of $320M-$340M From $310M-$340M; Lowered Adjusted Operating Expense Guidance To $350M-$370M
Portfolio Pulse from Benzinga Newsdesk
Intercept Pharmaceuticals has updated its FY23 net sales guidance for Ocaliva to $320-$340 million, up from $310-$340 million. The company also lowered its 2023 non-GAAP adjusted operating expense guidance to $350-$370 million, inclusive of restructuring costs. Intercept is on track to achieve a net reduction in annual non-GAAP adjusted operating expenses of approximately $140 million.
August 04, 2023 | 11:00 am
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Intercept Pharmaceuticals has raised its FY23 net sales guidance for Ocaliva and lowered its operating expense guidance. This could potentially improve the company's profitability, which may positively impact its stock price.
Intercept Pharmaceuticals' raised sales guidance for Ocaliva and lowered operating expense guidance indicates potential for increased profitability. This could make the company more attractive to investors, potentially driving up the stock price.
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