ICPT SHAREHOLDER ALERT: The Law Firm of Wohl & Fruchter LLP Announces
Investigation of Intercept Pharmaceuticals, Inc.
NEW YORK -- February 23, 2014
The law firm of Wohl & Fruchter LLP is investigating possible violations of
federal securities laws by officers and directors of Intercept
Pharmaceuticals, Inc. (Intercept) (NASDAQ: ICPT).
Intercept is developing a drug, obeticholic acid (OCA), to treat nonalcoholic
steatohepatitis (NASH), a leading cause of cirrhosis and liver failure.
On January 9, 2014, Intercept announced that the FLINT clinical trial
assessing the safety and efficacy of OCA to treat NASH had been stopped early
based on an interim efficacy analysis showing statistically significant
substantial improvements in measures of liver health (the primary endpoint of
the trial). The trial was sponsored and conducted by the National Institute of
Diabetes & Digestive & Kidney Diseases (NIDDK), a part of the National
Institutes of Health, at eight leading U.S. academic hepatology centers.
Upon the above news, ICPT stock soared from a close of $72.39/share on January
8, 2014, to a close of $445.83 on January 10, 2014.
After the close of the market on January 10, 2014, NIDDK advised the Wall
Street Journal that, in addition to improvements in liver health, patients
taking OCA in the FLINT trial showed "disproportionate lipid abnormalities" --
including worsened cholesterol levels -- compared with patients who received a
Upon the above news, ICPT dropped to $364.36/share in trading on January 13,
Persons with relevant information, and ICPT shareholders with questions about
this investigation, are invited to contact the attorney below, or our Firm by
Additional information is available on our website at:
About Wohl & Fruchter
Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and
other fiduciary breaches by corporate managers, as well as other complex
litigation matters. Please visit our website, www.wohlfruchter.com, to learn
more about our Firm, or contact one of our partners.
This release may be deemed to constitute attorney advertising.
Wohl & Fruchter LLP
J. Elazar Fruchter, 845-425-4658 or Toll Free 866-833-6245
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