Intercept Pharmaceuticals, Inc. - ICPT STOCK NEWS

Intercept Pharmaceuticals (Nasdaq: ICPT) has entered into agreements to repurchase $39.9 million of its 3.25% Convertible Senior Notes due 2023 for $38.1 million. This action reduces the 2023 Notes from $460 million to $113.7 million, effectively retiring over 75% of its debt obligations due in 2023. The CEO emphasized that these efforts strengthen their cash position and focus on business execution. The repurchase is subject to customary closing conditions and reflects Intercept's proactive approach to debt management to enhance shareholder value.

Intercept Pharmaceuticals (Nasdaq: ICPT) announced that key executives, including Jerry Durso, M. Michelle Berrey, and Andrew Saik, will present at the Baird 2021 Global Healthcare Conference on September 14, 2021, at 10:15 a.m. ET. This virtual event will focus on novel therapeutics for progressive non-viral liver diseases. A live webcast will be accessible on Intercept's investor page, with an audio archive available for two weeks following the event.

Intercept Pharmaceuticals (NASDAQ: ICPT) has announced a $500 million issuance of new Convertible Senior Secured Notes due 2026. The funds will integrate $306.5 million of 2023 Convertible Notes and $114.7 million of 2026 Convertible Notes, alongside a cash sale of $117.6 million in New Notes. A portion, approximately $75.7 million, will be utilized for stock buybacks at $16.75 per share to potentially bolster stock prices. Post-transaction, shares outstanding will decrease by 13.6%, enhancing shareholder value.

Intercept Pharmaceuticals reported net sales of $96.6 million for Q2 2021, marking a 25% increase year-over-year. The company reiterated its full-year Ocaliva net sales guidance of $325 million to $340 million and non-GAAP adjusted operating expense guidance of $380 million to $410 million. The company achieved its first cash positive quarter and has made progress in its NASH fibrosis program, anticipating a pre-submission meeting with the FDA in H1 2022. The company's net loss decreased to $11.1 million, compared to $63.3 million in Q2 2020.

Intercept Pharmaceuticals, Inc. (Nasdaq: ICPT) will disclose its second quarter 2021 financial results on July 29, 2021, before market open. This will be followed by a conference call at 8:30 a.m. ET to discuss the results. The call can be accessed through the investor section of the company's website or via phone. Intercept focuses on developing treatments for progressive non-viral liver diseases, including PBC and NASH, and has operations across the U.S., Europe, and Canada.

Intercept Pharmaceuticals (Nasdaq: ICPT) announced new analyses from the Phase 3 REGENERATE study, highlighting the relationship between early reductions of aminotransferases and fibrosis improvement in NASH patients treated with obeticholic acid (OCA). Real-world data also showed that Ocaliva® effectively reduced alkaline phosphatase and bilirubin in primary biliary cholangitis (PBC) patients. These findings will be presented at the Digital International Liver Congress 2021 from June 23-26, providing insights into treatment responses and the natural history of PBC and NASH.

Intercept Pharmaceuticals (Nasdaq:ICPT) announced that Jerry Durso, President and CEO, will present at the Raymond James 2021 Human Health Innovation Conference on June 22, 2021, at 1:20 p.m. ET. A live webcast will be accessible on the investor page of Intercept's website, with an audio archive available for two weeks post-event. Intercept focuses on developing therapeutics for progressive non-viral liver diseases, including primary biliary cholangitis and nonalcoholic steatohepatitis. Founded in 2002, the company operates in the U.S., Europe, and Canada.

Intercept Pharmaceuticals has appointed M. Michelle Berrey, M.D., M.P.H., as the new President of Research & Development and Chief Medical Officer. Her extensive experience includes leadership roles at Chimerix and Pharmasset, where she contributed to significant drug developments. The company is currently focused on expanding its PBC business and advancing regulatory dialogues for its NASH program. The transition comes as Intercept aims to enhance its pipeline and build on its established legacy in liver disease treatment.

Intercept Pharmaceuticals, Inc. (Nasdaq: ICPT) announced the appointment of Andrew Saik as Chief Financial Officer. With over 20 years of biopharma finance experience, Saik previously served as CFO at Vyne Therapeutics, where he raised over $135 million. His extensive background includes leadership roles at PDS Biotechnology and Auxilium Pharmaceuticals. CEO Jerry Durso welcomed him during this pivotal time for Intercept, emphasizing Saik's ability to strengthen the company’s financial strategy and growth potential. Rocco Venezia served as Acting CFO prior to Saik’s appointment.