Intercept Pharma rises on FDA's 'orphan drug' tag for liver disease therapy

Intercept Pharmaceuticals

16/05/2023 22:42

** Intercept Pharmaceuticals Inc's  ICPT.O  shares rise 3.6%
to $16.8 after market
    ** Company says U.S. FDA has granted "orphan drug" tag to
its experimental combination therapy to treat a type of liver
disease
    ** The therapy is a combination of obeticholic acid and
bezafibrate being developed for the potential treatment of
primary biliary cholangitis (PBC)
    ** PBC is a rare, progressive autoimmune disease that
affects bile ducts in the liver      
    ** Orphan drug status is given by the FDA to drugs that
treat rare conditions, and are protected through a series of
government incentives once in market
    ** Intercept Pharma on track to complete planned interim
analyses from two ongoing mid-stage studies of the combination
therapy this year
    ** As of last close, company's shares up 31% YTD

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com))