Brief: Intercept To Reduce Workforce By About One Third

Intercept Pharmaceuticals

23/06/2023 11:42

June 23 (Reuters) - Intercept Pharmaceuticals Inc
 ICPT.O :
    * INTERCEPT ANNOUNCES RESTRUCTURING TO STRENGTHEN FOCUS ON
RARE
AND SERIOUS LIVER DISEASES AND SIGNIFICANTLY REDUCE OPERATING
EXPENSES
    * INTERCEPT PHARMACEUTICALS INC - TO DISCONTINUE ALL
NASH-RELATED
INVESTMENT AND REDUCE WORKFORCE BY APPROXIMATELY ONE THIRD
    * INTERCEPT PHARMACEUTICALS INC - LOWERS 2023 NON-GAAP
ADJUSTED
OPERATING EXPENSE GUIDANCE TO $350-$370 MILLION
    * INTERCEPT PHARMACEUTICALS INC - REITERATES 2023 OCALIVA
NET
SALES GUIDANCE OF $310-$340 MILLION
    * INTERCEPT PHARMACEUTICALS - EXPECTS TO ACHIEVE NET
REDUCTION IN
ANNUAL NON-GAAP ADJUSTED OPERATING EXPENSES OF APPROXIMATELY
$140 MILLION
    * INTERCEPT PHARMACEUTICALS INC - WILL PROMPTLY BEGIN
PROCESS OF
CLOSING OUT REGENERATE STUDY
    * INTERCEPT - REMAINS ON TRACK FOR PLANNED REGULATORY
SUBMISSION
TO FDA IN 2023 IN SUPPORT OF FULFILLING POST-MARKETING
REQUIREMENTS FOR OCALIVA IN PBC
    * INTERCEPT PHARMACEUTICALS INC: ANTICIPATES ACHIEVING
PROFITABILITY IN 2024

Source text for Eikon:  ID:nGNX15DQVP 
Further company coverage:  ICPT.O 

 ((Reuters.Briefs@thomsonreuters.com;))