Intercept Pharmaceuticals, Inc. - ICPT STOCK NEWS

Intercept Pharmaceuticals reported Ocaliva® net sales of $92.4 million for Q4 2021 and $363.5 million for the full year, reflecting 11% and 16% growth year-over-year, respectively. The company projects Ocaliva sales guidance for 2022 to be between $375 million and $405 million. Operating expenses for 2021 declined to $419.1 million, down from $543.9 million in 2020. The firm anticipates topline results from its REVERSE Phase 3 study in Q3 2022, targeting a pre-submission meeting with the FDA in 1H 2022 to support its NASH pipeline.

Intercept Pharmaceuticals (Nasdaq:ICPT) will report its Q4 and full year 2021 financial results before market opens on March 2, 2022. Following the announcement, an 8:30 a.m. ET conference call will be hosted by the management team to discuss the results. The call can be accessed on the investor page of their website or by calling a designated number. Intercept focuses on developing therapeutics for progressive liver diseases, including primary biliary cholangitis and nonalcoholic steatohepatitis.

Intercept Pharmaceuticals (NASDAQ: ICPT) has announced a delay in the top-line data release for its Phase 3 REVERSE trial, now anticipated in Q1 2022 instead of late 2021. This delay is attributed to the complexity of data analyses and reliance on external parties. The REVERSE trial remains the only late-stage study for treating compensated cirrhosis due to NASH, and the results are crucial as currently, there are no approved therapies for this condition. Intercept is also preparing a new data package from the REGENERATE study for a potential FDA resubmission in early 2022.

Intercept Pharmaceuticals (NASDAQ: ICPT) announced its decision to withdraw the Marketing Authorization Application (MAA) for obeticholic acid (OCA) to treat liver fibrosis due to nonalcoholic steatohepatitis (NASH) from the European Medicines Agency (EMA). The initial filing was supported by positive interim results from the Phase 3 REGENERATE study, which is still ongoing. However, the EMA could not determine a positive benefit-risk profile based on the current data, prompting the withdrawal. Intercept aims to compile additional efficacy and safety data for a potential future submission.

Intercept Pharmaceuticals (Nasdaq: ICPT) presented new findings indicating that Obeticholic Acid (OCA) may significantly improve transplant-free survival for patients with Primary Biliary Cholangitis (PBC). Data from the Phase 3 POISE trial highlighted that patients on OCA had a 72% to 80% lower risk of death or liver transplant compared to external control groups. The results, which were showcased at the virtual Liver Meeting, offer valuable insights for clinical outcomes associated with OCA treatment. The study involved 209 patients over a follow-up period of up to 6.3 years.

Intercept Pharmaceuticals (Nasdaq:ICPT) announced that its executives will participate in virtual fireside chats at two investor conferences. Jerry Durso, M. Michelle Berrey, Linda Richardson, and Andrew Saik will present at the 2021 Jefferies London Healthcare Conference on November 18, 2021, and at the Piper Sandler 33rd Annual Virtual Healthcare Conference on November 22, 2021. The presentations will be accessible on Intercept’s investor page, with an audio archive available for two weeks post-event.

Intercept Pharmaceuticals reported Q3 2021 revenue of $92.8 million, a 17% increase year-over-year. The company raised its Ocaliva net sales guidance for 2021 to $355-$370 million and narrowed its non-GAAP adjusted operating expense guidance to $380-$395 million. They completed a successful debt exchange and share buyback while maintaining a robust cash position of approximately $428.8 million. Intercept is progressing towards key NASH clinical trials with topline results expected by year-end, positioning itself for a pivotal 2022.

Intercept Pharmaceuticals (Nasdaq: ICPT) announced multiple abstracts on obeticholic acid (OCA) at The Liver Meeting 2021, including a significant oral presentation highlighting OCA's potential for improving transplant-free survival in primary biliary cholangitis (PBC) patients compared to external controls. The meeting will also showcase a new biopsy reading methodology for NASH trials and details of the Phase 3 REVERSE trial design targeting compensated cirrhosis due to NASH. OCA remains investigational for NASH and is not FDA-approved for fibrosis treatment.

Intercept Pharmaceuticals (Nasdaq: ICPT) will disclose its third quarter 2021 financial results on November 3, 2021, before market open. The announcement will be followed by a conference call at 8:30 a.m. ET, where the management will discuss the results. This biopharmaceutical company focuses on developing treatments for progressive non-viral liver diseases, including primary biliary cholangitis and nonalcoholic steatohepatitis. Archived webcasts will be available on their investor page for approximately two weeks.