Biotech Intercept Pharmaceuticals (ICPT) was trading down sharply Wednesday morning after the first Japanese trial of its fatty-liver-disease drug produced mixed results. The midstage trial, conducted by Intercept’s Japanese partner Dainippon Sumitomo Pharma, divided 200 patients with non-alcoholic steatohepatitis (NASH) into three different dosage groups taking obeticholic acid (OCA), along with a placebo group. The endpoint was an two-point
Morgan Stanley launched coverage of Intercept Pharmaceuticals (ICPT) with an underperform rating Thursday, saying Wall Street is overestimating the market opportunity in liver disease that Intercept aims to treat. “This is one of our highest-conviction, out-of-consensus calls,” wrote Andrew Berens in his initiation report. “Near term, our concerns focus on the FDA review of Intercept’s lead candidate, obeticholic acid (OCA), for approval in
Biotech Intercept Pharmaceuticals (ICPT) was riding high on an upgrade and multiple price-target increases after it issued new data late Monday on its fatty-liver-disease drug candidate. Intercept Pharma stock vaulted 31% in early trading on the stock market today, near 346, a four-month high. Monday’s data, which Intercept included in its Q2 financial report, provided more details on the mid-stage clinical trial of obetacholic acid (OCA) for