Why Intercept Pharmaceuticals Is Up Today

Discussion in 'Stock Market Forum' started by PaulSchinider, May 29, 2014.

  1. PaulSchinider

    PaulSchinider Well-Known Member

    Mar 2014
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    Intercept Pharmaceuticals’ experimental drug has been granted fast-track status by the FDA, pushing the stock price up around 4% during trading today

    Intercept Pharmaceuticals (ICPT) reported that the US Food and Drug Administration granted fast-track status to one of its leading experimental drugs, which is currently being tested for its efficacy in treating difficult autoimmune liver disease cases. The company's shares rose 7.4% during afterhours trading to $251.35 as investors took in the positive news. The momentum had somewhat dissipated as today’s trading session got underway, with the stock paring its gains to about 4%.
    The Approval

    Intercept has been granted fast-track status for the use of obeticholic acid (OCA) in treating primary biliary cirrhosis (PBC) in patients who have either not responded well or have not been able to tolerate ursodiol. Ursodiol is currently the only drug approved to treat PBC. The disease one of several members in the chronic liver disease family that the acid is being developed to target.
    OCA is currently being studied for its efficacy in treating a variety of liver diseases, including primary sclerosing cholangitis (PSC), nonalcoholic steatohepatitis (NASH), cirrhosis, alcoholic hepatitis, bile acid diarrhea, and portal hypertension.

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