Intercept Pharmaceuticals Inc. (ICPT)’s Positive Liver Cure Overshadows Dismal Second Quarter Results

Intercept Pharmaceuticals Inc. (NASDAQ:ICPT) continues to soar in the market after the release of positive clinical data, which showed its drug for a lesser known liver disease is effective; increasing prospects of the same being approved by the FDA. The drug released is called OCA and was found to reverse liver damage by essentially reversing liver scarring or fibrosis, which is most of the time known to cause organ failure or cancer.

Intercept Pharmaceuticals Inc (NASDAQ:ICPT)

“[…] the results are very good, better than we thought. This stock has been up a lot and what happens is I think people like exact sciences. They recognize, you know, what it is a lottery, you have a bunch of this stocks, and one of them is going to pay off, and that’s why the stock market is vibrant because when you have a great orphan drug that does do something special you can have this kind of move,” said CNBC’s Jim Cramer.

Intercept Pharmaceuticals Inc. (NASDAQ:ICPT) has already outlined plans to release  full trial results on November 10, 2014 at the American Association study of the Liver Diseases conference in Boston. The pharmaceutical company has also outlined plans to target the drug first on Primary Biliary Cirrhosis, a rare form disease known to cause inflammation that destroys the bile ducts in the liver ultimately leading to scarring.

Intercept Pharmaceuticals Inc. (NASDAQ:ICPT)’s stock is already at a high of $295.42 having surged by 24.56% on the release of the positive news awaiting to see the final trading share price as of the close of business. Genfit another French pharmaceutical company has stated that it is developing its own experimental drug, GFT505, which treats NASH.

Genfit and Intercept Pharmaceuticals Inc. (NASDAQ:ICPT) have also stated that plans are underway, to explore partnerships with other drug makers with a view of bringing similar treatment to the market. The release of the positive OCA drug news, looks to have overshadowed dismal quarterly results that the company posted yesterday; having posted an adjusted net loss of $1 a share compared to a net loss of $0.79 reported a year ago.

Disclosure: none

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!