Intercept Pharmaceuticals, Inc. Was Halved in September, but Presents an Intriguing Opportunity
Shares of Intercept Pharmaceuticals (NASDAQ: ICPT), a small-cap biotech company with a focus on discovering medicines to treat non-viral, progressive liver diseases, lost roughly half of its value in September, according to S&P Global Market Intelligence. The catalyst? Look no further than concerns surrounding its only approved drug, and leading clinical candidate, Ocaliva.
For Intercept, the issues began on Sept. 12, when it advised physicians to be extra cautious when dosing Ocaliva to patients with primary biliary cholangitis (PBC), the only approved indication for Ocaliva. At the time, it was noted that 10 patients with liver impairments had suffered liver failure, injury, decompensation, or death as a result of overdosing. Patients with liver impairment are only designed to receive the drug once weekly in a 5 mg dose, but some had been dosed daily.
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Source: Fool.com
