Should You Throw in the Towel on Intercept Pharmaceuticals After Its Big Setback?

Intercept Pharmaceuticals (NASDAQ: ICPT) fully expected approval from the Food and Drug Administration for obeticholic acid (OCA) in treating non-alcoholic steatohepatitis (NASH). CEO Mark Pruzanski even stated on the company's Q1 conference call last month that the drugmaker would be "prepared to launch as soon as possible" after that anticipated approval.

That launch won't happen anytime soon. On Monday, Intercept announced that it had received a complete response letter (CRL) from the FDA. Unsurprisingly, the drugmaker's shares plunged on the news. But should you throw in the towel on Intercept after its big setback?

Image source: Getty Images.

Continue reading

Source Fool.com