Intercept Pharmaceuticals, Inc. - ICPT STOCK NEWS

Intercept Pharmaceuticals has updated the prescribing information for Ocaliva (obeticholic acid) due to safety concerns. The updated labels now contraindicate Ocaliva use in patients with primary biliary cholangitis (PBC) who have decompensated cirrhosis or evidence of portal hypertension. This change follows adverse events suggesting severe liver complications in specific patient groups. Despite these updates, Ocaliva remains the only FDA-approved second-line therapy for PBC, primarily indicated for patients without significant liver impairment.

Intercept Pharmaceuticals (Nasdaq: ICPT) has announced that CEO Jerry Durso will present at the 2021 RBC Capital Markets Global Healthcare Conference on May 19, 2021, at 4:50 p.m. ET. This conference is a significant event for the biopharmaceutical company, which specializes in novel therapeutics for progressive non-viral liver diseases such as primary biliary cholangitis (PBC) and nonalcoholic steatohepatitis (NASH). A live webcast of the presentation will be available on their investor page, with an audio archive accessible for two weeks thereafter.

Intercept Pharmaceuticals reported Q1 2021 revenues of $81.7 million, a 12% increase from the prior year. The company has narrowed its 2021 Ocaliva sales guidance to $325 million to $340 million and reiterated its operating expense guidance of $380 million to $410 million. The FDA update on Ocaliva’s Prescribing Information is imminent, with restrictions expected on usage for certain cirrhosis patients. Intercept continues preparations for a potential NASH filing and expects a safety update from the ongoing Phase 3 REGENERATE study later this year.

Intercept Pharmaceuticals (Nasdaq:ICPT) will announce its Q1 2021 financial results on May 6, 2021, before the market opens. A conference call is scheduled for 8:30 a.m. ET on the same day to discuss the results. The call will be accessible via the company's investor page and through international dialing options. Intercept focuses on novel therapeutics for progressive non-viral liver diseases such as primary biliary cholangitis (PBC) and nonalcoholic steatohepatitis (NASH), with operations in the U.S., Europe, and Canada.

Intercept Pharmaceuticals (Nasdaq: ICPT) announced the appointment of Rocco Venezia as Chief Accounting Officer and Acting CFO following the departure of Sandip Kapadia, who will leave on March 26, 2021, to pursue another opportunity. Kapadia's exit is unrelated to the company's operations or financial reporting. Intercept has also reiterated its 2021 financial guidance, suggesting stability in its financial outlook. The company continues to focus on therapeutics to treat non-viral liver diseases, highlighting its progress in the commercialization of Ocaliva for primary biliary cholangitis.

Intercept Pharmaceuticals reported net sales of $83.3 million for Q4 2020 and $312.7 million for the full year, reflecting growth of 18% and 25% compared to 2019. The company anticipates 2021 net sales guidance between $325 million to $355 million and non-GAAP adjusted operating expenses guidance of $380 million to $410 million. Intercept is engaged in ongoing discussions with the FDA regarding a safety signal related to Ocaliva. The company is also expecting results from the Phase 3 REVERSE trial for NASH by late 2021.

Intercept Pharmaceuticals has appointed Dagmar Rosa-Bjorkeson to its Board of Directors, effective April 1, 2021. With over 25 years of experience in the pharmaceutical industry, Rosa-Bjorkeson has held leadership roles in corporate strategy and product development at firms including Novartis and Baxalta. CEO Jerry Durso highlighted her expertise as valuable for the company during a critical year focused on enhancing its primary biliary cholangitis (PBC) business and advancing its nonalcoholic steatohepatitis (NASH) regulatory process in the U.S. and Europe.

Intercept Pharmaceuticals (Nasdaq:ICPT) announced that Jerry Durso, President and CEO, and Sandip Kapadia, CFO, will present at the SVB Leerink 10th Annual Global Healthcare Conference on February 26, 2021, at 1:00 p.m. ET and at the Cowen 41st Annual Healthcare Conference on March 2, 2021, at 10:30 a.m. ET. A live webcast will be available on Intercept’s investor page, with an archive accessible for two weeks afterward. Intercept focuses on developing therapeutics for progressive non-viral liver diseases like primary biliary cholangitis (PBC) and nonalcoholic steatohepatitis (NASH).

Intercept Pharmaceuticals has appointed Linda Richardson as Chief Commercial Officer, who previously managed the Global Cholestasis Program at the company since 2018. She will oversee the Ocaliva franchise in the U.S. and international markets. Additionally, Lisa DeFrancesco will join the Executive Leadership Team, further enhancing the company's strategic direction. Richardson expressed optimism about building on Intercept's track record with Ocaliva to support patients with progressive liver diseases. The announcement highlights leadership changes aimed at driving growth in the company’s commercial efforts.