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Intercept Pharmaceuticals Inc ICPT

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Intercept Cuts Costs Following Disappointing NASH News; Preparing for Talks With FDA

Anna Baran Equity Analyst

Analyst Note

| Anna Baran |

Intercept reported second-quarter results that outperformed our estimates on both revenue and operating expenses. However, the financial results are overshadowed by the disappointing news announced late in the second quarter that the U.S. Food and Drug Administration issued Intercept a complete response letter for obeticholic acid, the company’s drug candidate to treat nonalcoholic steatohepatitis, delaying potential approval.

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Company Profile

Business Description

Intercept Pharmaceuticals is a biotech company focused on developing and commercializing novel therapeutics to treat chronic liver diseases. Obeticholic acid, or OCA, is an agonist of the farnesoid X receptor. OCA was approved as Ocaliva to treat primary biliary cirrhosis in 2016 and is being developed for a variety of chronic liver diseases, including nonalcoholic steatohepatitis, or NASH.

10 Hudson Yards, 37th Floor
New York, NY, 10001
T +1 646 747-1000
Sector Healthcare
Industry Biotechnology
Most Recent Earnings Jun 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type Speculative Growth
Employees 583