BioCentury
ARTICLE | Financial News

Intercept jumps again

January 11, 2014 2:37 AM UTC

Intercept Pharmaceuticals Inc. (NASDAQ:ICPT) continued to surge after Thursday's positive data surprise. The stock jumped a further $169.96 (62%) to $445.83 on Friday, which translates to a $3.3 billion gain in market cap for a closing valuation of $8.6 billion. The shares have gained 516% since Thursday, when the company said an NIH-run Phase II trial of Intercept's obeticholic acid to treat non-alcoholic steatohepatitis (NASH) met the primary endpoint.

By year end, Intercept plans to seek U.S. and European approval of the oral farnesoid X receptor (FXR; NR1H4) agonist to treat primary biliary cirrhosis (PBC) (see BioCentury Extra, Jan. 9). ...