|[February 21, 2014]
Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of Intercept Pharmaceuticals, Inc.
BENSALEM, Pa. --(Business Wire)--
Offices of Howard G. Smith announces that it is investigating
potential claims on behalf of investors of Intercept Pharmaceuticals,
Inc. ("Intercept" or the "Company") (NASDAQ:ICPT) concerning possible
violations of federal securities laws. The investigation focuses on
certain statements issued by Intercept concerning the Company's
operations and financial prospects.
Intercept is a development stage biopharmaceutical company, focused on
the development and commercialization of novel therapeutics to treat
chronic liver diseases utilizing Intercept's proprietary bile acid
chemistry. The Company's primary drug compound is obeticholi acid
("OCA"), a bile acid analog that is in various stages of clinical
development for the treatment of cirrhosis and other chronic liver
diseases. The Investigation is related to the Company's January 9, 2014,
and January 10, 2014, announcements that the Phase 2 clinical trial of
OCA for treatment of non-alcoholic steatohepatitis met its efficacy
endpoint with a high degree of statistical significance.
On January 10, 2014, the National Institutes of Health's National
Institute of Diabetes and Digestive Kidney Diseases issued a statement
that although the efficacy primary endpoint for OCA had already been
met, study participants suffered disproportionate levels of lipid
abnormalities. Following this news, Intercept stock dropped from its
$445.83 per share closing price on January 10, 2014, to a closing price
of $255.12 per share on January 14, 2014.
If you purchased Intercept Pharmaceuticals, Inc. securities between
January 9, 2014 and January 10, 2014, if you have information or would
like to learn more about these claims, or if you have any questions
concerning this announcement or your rights or interests with respect to
these matters, please contact Howard G. Smith, Esquire, of Law Offices
of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania
19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by
email to firstname.lastname@example.org,
or visit our website at www.howardsmithlaw.com.
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