Company Overview of Intercept Pharmaceuticals, Inc.
Intercept Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the development and commercialization of therapeutics in the United States, Europe, and Canada. Its lead product candidate is obeticholic acid (OCA), a bile acid analog, which has a structure based on a naturally occurring human bile acid that selectively binds to and activates the farnesoid X receptor (FXR). The company is developing OCA to treat various non-viral progressive liver diseases, such as nonalcoholic steatohepatitis (NASH), primary sclerosing cholangitis, and biliary atresia. It also provides OCA under the Ocaliva brand name for the treatment of primary biliary cholangitis (PBC). In addition, the company is...
450 West 15th Street
New York, NY 10011
Founded in 2002
Key Executives for Intercept Pharmaceuticals, Inc.
Founder, Chief Executive Officer, President & Director
Total Annual Compensation: $1.0M
CFO & Treasurer
Total Annual Compensation: $275.0K
President of International
Total Annual Compensation: $503.0K
Chief Medical Officer
Total Annual Compensation: $659.0K
Compensation as of Fiscal Year 2016.
Intercept Pharmaceuticals, Inc. Key Developments
Intercept Pharmaceuticals, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the First Quarter and Full Year of 2018
Feb 14 18
Intercept Pharmaceuticals, Inc. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total revenue of $37,687,000 compared to $13,808,000 a year ago. Operating loss was $104,969,000 compared to $114,008,000 a year ago. Net loss was $111,272,000 compared to $120,042,000 a year ago. Basic and diluted loss per common and potential common share was $4.43 compared to $4.48 a year ago.
For the full year, the company reported total revenue of $130,956,000 compared to $24,951,000 a year ago. Operating loss was $335,612,000 compared to $402,538,000 a year ago. Net loss was $360,367,000 compared to $412,830,000 a year ago. Basic and diluted loss per common and potential common share was $14.38 compared to $16.74 a year ago.
The company provided earnings guidance for the first quarter and full year of 2018. The company expects modest sequential growth in the first quarter of 2018.
The company continues to expect gross-to-net for the year to be in the 10% to 15% range. For the full year, The company expects interest expense of approximately $30 million, which includes the amortization component from outstanding convertible notes.
Intercept Pharmaceuticals, Inc. Appoints Ryan Sullivan as General Counsel and Secretary
Feb 14 18
Intercept Pharmaceuticals, Inc. appointed Ryan Sullivan as General Counsel and Secretary. Prior to joining Intercept, Mr. Sullivan worked at Anacor Pharmaceuticals, Inc. At Anacor, Mr. Sullivan was most recently Executive Vice President, General Counsel and Secretary.
Intercept Pharmaceuticals, Inc. Announces Phase 3 REVERSE Trial Evaluating OCA
Feb 12 18
Intercept Pharmaceuticals, Inc. announced the REVERSE trial (Randomized Phase 3 Study Evaluating the Efficacy and Safety of Obeticholic Acid in Subjects with Compensated Cirrhosis Due to Nonalcoholic Steatohepatitis). REVERSE is a randomized, double-blind, placebo-controlled, multi-center study that will evaluate the efficacy and safety of the investigational therapy obeticholic acid (OCA) in approximately 540 patients with a biopsy-confirmed diagnosis of cirrhosis due to NASH. The REVERSE trial will be conducted at sites in North America, Europe, Australia and New Zealand. The primary endpoint is the percentage of subjects with histological improvement in fibrosis by at least one stage using the NASH Clinical Research Network (CRN) scoring system after 12 months of treatment. Patients are being randomized in a 1:1:1 ratio to one of the three treatment arms: once-daily dosing of OCA 10 mg, once-daily OCA 10 mg with titration to 25 mg at three months, or placebo. Patients who successfully complete the double-blind phase of REVERSE will be eligible to enroll in an open-label extension phase for up to 12 additional months. Results from the double-blind phase of the study are intended to serve as the basis for seeking initial U.S. and international marketing authorizations of OCA for the treatment of NASH patients with compensated cirrhosis. Consistent with regulatory requirements, a subsequent outcomes trial will be planned with the goal of confirming clinical benefit on a post-marketing basis in a broader population of NASH patients with cirrhosis.
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