NEW YORK, May 21, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Intercept Pharmaceuticals, Inc. (“Intercept” or the “Company”) ICPT. Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation addresses whether Intercept and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On May 17, 2023, the U.S. Food and Drug Administration (“FDA”) released briefing documents for an upcoming meeting of the Advisory Committee on Gastrointestinal Drugs scheduled for May 19, 2023 to review obeticholic acid, the liver disease candidate of Intercept Pharmaceuticals. The briefing documents cited concerns from FDA reviewers about the drug’s risk-benefit profile, with the FDA noting that “[t]Research for obeticholic acid suggests that it causes multiple off-target side effects that require multiple risk reduction strategies with low probability of efficacy.”

As a result of this news, Intercept’s stock price fell $2.38 per share, or 14.68%, to close at $13.83 per share on May 17, 2023.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Pomerantz was founded by the late Abraham L. Pomerantz, Dean of the Class Bar Association, and pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The company has recovered billions of dollars in damages on behalf of class members. See www.pomlaw.com.

CONTACT:
Robert S Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980