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News Breaks
May 15, 2014
10:04 EDTGALT, ICPTIntercept rises after analyst targets shares to more than double
Shares of drugmaker Intercept Pharmaceuticals (ICPT) are climbing after research firm Summer Street initiated coverage of the shares with a Buy rating and a $650 price target in a note to investors earlier today. WHAT'S NEW: Intercept's obeticholic acid drug demonstrated such a high level of efficacy as a treatment for nonalcoholic steatohepatitis in a Phase II study that the trial was stopped early, analyst Jim Molloy wrote. Late stage nonalcoholic steatohepatitis, also known as NASH, affects about 8M people in the U.S. each year and causes victims to die unless they receive liver transplants. It's "hard to overstate the opportunity" for obeticholic acid, wrote Molloy, who predicts that the FDA will approve the drug in the fourth quarter of 2015. He notes that the company is looking at using the drug to treat a variety of other liver related indications as well. OTHERS TO WATCH: Galectin Therapeutics (GALT) has stated that it believes its drug candidates "have the potential to treat NASH and other forms of liver fibrosis." PRICE ACTION: In early trading, Intercept gained $2.57, or 1%, to $273.51.
News For ICPT;GALT From The Last 14 Days
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February 24, 2015
08:07 EDTGALTGalectin to submit SPA to FDA for GR-MD-02 by end of month
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February 19, 2015
16:31 EDTICPTIntercept promotes Lisa Bright to Chief Commercial & Corporate Affairs Officer
Intercept Pharmaceuticals announced that Lisa Bright has been promoted to the newly-created position of Chief Commercial and Corporate Affairs Officer. Bright joined Intercept last year from Gilead Sciences where her leadership of the European launch of Sovaldi for the treatment of chronic hepatitis C contributed to the most successful product launch in pharmaceutical history.

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