NEW YORK, May 28, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Intercept Pharmaceuticals, Inc. (“Intercept” or the “Company”) (NASDAQ: ICPT). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Intercept and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On May 17, 2023, the U.S. Food and Drug Administration (“FDA”) released briefing documents for an upcoming Gastrointestinal Drugs Advisory Committee meeting scheduled for May 19, 2023 to review Intercept Pharmaceuticals’ liver disease candidate, Obeticholic Acid. The briefing documents cited concerns by FDA reviewers about the drug’s risk-benefit profile, with the FDA noting that “[t]rial results for obeticholic acid indicate it causes multiple off-target effects that require multiple risk mitigation strategies with low likelihood of effectiveness.”
On 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 acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980