Intercept Pharmaceuticals, Inc. (ICPT)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Intercept Pharmaceuticals, Inc. ("Intercept” or "the Company") (NASDAQ: ICPT). The investigation concerns whether Intercept and certain of its officers and/or directors have violated federal securities laws.
On May 22, 2020, Intercept issued a press release announcing that “the U.S. Food and Drug Administration (FDA) has notified Intercept that its tentatively scheduled June 9, 2020 advisory committee meeting (AdCom) relating to the company’s new drug application (NDA) for obeticholic acid (OCA) for the treatment of liver fibrosis due to nonalcoholic steatohepatitis (NASH) has been postponed” in order to “accommodate the review of additional data requested by the FDA that the company intends to submit within the next week.” On this news, Intercept’s stock price fell $11.18 per share, or 12.19%, to close at $80.51 per share on May 22, 2020.
Then on June 29, 2020, the FDA issued a Complete Response Letter (CRL) regarding the drug application for OCA and declined to clear it for marketing. Following this news, Intercept stock has dropped as much as 37% during intraday trading on June 29, 2020.
If you are aware of any facts relating to this investigation, or purchased Intercept shares, you can also contact Peretz Bronstein of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.