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Intercept Pharmaceuticals (Nasdaq: ICPT) announced multiple abstracts for presentation at The Liver Meeting® 2022, highlighting the benefit-risk profile of obeticholic acid (OCA) for liver fibrosis due to NASH. Key data from the REGENERATE study, demonstrating improved clinical outcomes, including transplant-free survival in PBC patients treated with OCA, will be featured. Additionally, new findings on INT-787, a next-generation FXR agonist, will also be presented. The meeting will take place in Washington, D.C., from November 4 to 8, 2022.
Intercept Pharmaceuticals (Nasdaq: ICPT) will release its Q3 2022 financial results on November 1, 2022, prior to market opening. A conference call and audio webcast will follow at 8:30 a.m. ET. Investors can join via the company’s investor page, and questions can be submitted in advance for participation.
Intercept focuses on developing therapeutics for non-viral liver diseases, such as primary biliary cholangitis and nonalcoholic steatohepatitis. For more details, visit their official website.
Intercept Pharmaceuticals (Nasdaq: ICPT) announced that Jerry Durso, CEO, and Dr. Michelle Berrey, President of R&D, will participate in a fireside chat at H.C. Wainwright's 6th Annual NASH Investor Conference on October 17, 2022. The chat is scheduled from 2:30 p.m. to 3:00 p.m. ET. Investors interested in attending can register for the conference. The company focuses on developing novel therapies for progressive non-viral liver diseases, including primary biliary cholangitis and nonalcoholic steatohepatitis.
Intercept Pharmaceuticals announced it is set to resubmit its new drug application (NDA) for OCA, targeting liver fibrosis due to nonalcoholic steatohepatitis (NASH) by year-end, following encouraging results from the Phase 3 REGENERATE study. However, the REVERSE study, which investigated OCA in patients with compensated cirrhosis, did not meet its primary endpoint, showing histological improvement in fibrosis. Treatment was generally safe, with no new safety signals detected despite a higher incidence of pruritus and gallstones. Overall, the company remains optimistic about OCA's future in treating liver fibrosis.
Intercept Pharmaceuticals (Nasdaq: ICPT) has successfully reduced its outstanding debt by 54% or $388.9 million, bringing total debt down to $336.3 million. Additionally, the company decreased its annual cash interest expense by 58% to $9.8 million. These measures, including a private repurchase of senior secured convertible notes and the sale of its international business, enhance Intercept's capital structure and position it for growth in its PBC franchise and progress in its NASH program. The company’s cash position exceeds $500 million, creating a net debt positive situation for the first time since 2019.
Intercept Pharmaceuticals announced a significant study published in Gastroenterology showing that patients receiving OCA for primary biliary cholangitis (PBC) experience better transplant-free survival than those not treated with OCA. Key findings indicate a 70% lower risk of death or liver transplant for OCA patients. The study compared data from the Phase 3 POISE trial with real-world registries, providing evidence of OCA's clinical efficacy. The research is seen as a pivotal development in evaluating treatments for PBC.
Intercept Pharmaceuticals (Nasdaq: ICPT) announced participation in investor conferences with CEO Jerry Durso and CFO Andrew Saik. The events include the H.C. Wainwright 24th Annual Global Investment Conference on September 13, 2022, and the Baird Global Healthcare Conference on September 14, 2022. Both fireside chats will be accessible via Intercept's investor page. The company focuses on developing therapies for progressive non-viral liver diseases, including primary biliary cholangitis (PBC) and nonalcoholic steatohepatitis (NASH).
Intercept Pharmaceuticals (Nasdaq: ICPT) will participate in investor meetings at the Citi 17th Annual BioPharma Conference on September 8, 2022, in Boston. This event focuses on the development of therapeutics for progressive non-viral liver diseases, including primary biliary cholangitis and nonalcoholic steatohepatitis. Investors interested in meeting with the management team can contact Nareg Sagherian to check availability. For more details, visit www.interceptpharma.com.
Intercept Pharmaceuticals (Nasdaq: ICPT) announced a strategic repurchase of $327.9 million of its secured convertible debt, reducing total outstanding debt by 45%. This move aims to improve capital structure and limit potential shareholder dilution by 6.3 million shares. The repurchase involves 222.0 million in cash and 9.4 million shares for its 3.50% Convertible Senior Secured Notes due 2026. Post-transaction, the principal balance will decrease to 172.1 million, resulting in annual interest savings of 11.5 million. Intercept's cash position will exceed 500 million.
Intercept Pharmaceuticals (Nasdaq: ICPT) will participate in B. Riley’s virtual PBC Mini Symposium on August 24, 2022. The event, titled Orphan Liver Disease That May Not Be As Rare As You’d Think, will feature discussions on the adoption and use of PBC therapies by industry leaders and physicians. Intercept's fireside chat is scheduled for 1:00 p.m. ET. The event will start at 11:00 a.m. ET and will be webcast live. For more details, visit Intercept's investor page.