MORRISTOWN, N.J. (AP) — MORRISTOWN, N.J. (AP) — Intercept Pharmaceuticals Inc. (ICPT) on Monday reported a loss of $2.8 million in its third quarter.

The Morristown, New Jersey-based company said it had a loss of 7 cents per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 27 cents per share.

The drugmaker posted revenue of $88.8 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $88 million.

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