Intercept Soars After Successful Liver Drug Clinical Trial
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Intercept Pharmaceuticals Inc., whose top owners include SAC Capital Advisors LP and Orbimed Advisors LLC, rose the most ever after a trial of its liver disease drug worked well enough for the testing to be stopped.
Shares of the New York-based company more than tripled to $275.87 at the close in New York time. Over the last 12 months, investors anticipating a positive outcome for the treatment had more than doubled the stock as of yesterday’s close.