Intercept Pharmaceuticals, Inc., a development stage biopharmaceutical company, focuses on the development and commercialization of therapeutics to treat chronic liver diseases utilizing proprietary bile acid chemistry. It primarily develops obeticholic acid, a bile acid analog and farnesoid X receptor (FXR) agonist that is in Phase III clinical trials for the treatment of primary biliary cirrhosis; in Phase IIa clinical trials to treat portal hypertension; in Phase IIb clinical trials for the nonalcoholic steatohepatitis treatment; and in Phase IIa trials for the treatment of bile acid diarrhea. The company is also developing INT-767, an orally administered FXR and TGR5 agonist, which is in...
18 Desbrosses Street
New York, NY 10013
Founded in 2002
Intercept Pharmaceuticals, Inc. Enters into Second Amendment to the Lease for its San Diego Office with 4350 La Jolla Village LLC
Dec 2 13
On November 27, 2013, Intercept Pharmaceuticals, Inc. entered into the Second Amendment to the lease for its San Diego office with 4350 La Jolla Village LLC. The Second Amendment, among other things, adds approximately 3,069 square feet of additional space to the company's San Diego office, resulting in the company leasing an aggregate of approximately 15,768 square feet of space. Pursuant to the Second Amendment, the company will lease the Additional Space from January 2014 through December 2015. The future minimum lease payments for the Additional Space in 2014 and 2015 are expected to be approximately $120,000 and $125,000, respectively.
Intercept Pharmaceuticals Extends the Term of its Research Program with Servier
Nov 14 13
Intercept Pharmaceuticals, Inc. announced that effective October 1, 2013, Intercept extended the term of its research program with Servier relating to the discovery of novel TGR5 agonists until September 30, 2015. The research program was extended on the same financial terms that were previously in effect. Concurrently, Intercept also entered into amendments to its consulting agreement with Professor Roberto Pellicciari and its research agreement with TES Pharma Srl.
Intercept Pharmaceuticals, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013
Nov 14 13
Intercept Pharmaceuticals, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company's net loss attributable to common stockholders was $31.7 million, or $1.65 per share, compared to a net loss of $6.2 million, or $1.86 per share, for the same period in 2012. The $25.5 million increase in net loss is primarily due to the increase of $19.3 million in the non-cash charge related to the periodic revaluation of warrant liability, primarily caused by the increase in the market price of Intercept's common stock, and increased non-cash stock compensation expense of $2.5 million. Licensing revenue was $405,000 against $523,000 a year ago. Net loss was $31,737,000 against $5,187,000 a year ago.
For the nine months, the company's net loss attributable to common stockholders was $55.4 million, or $3.15 per share, compared to a net loss of $15.5 million, or $4.64 per share, for the nine months ended September 30, 2012. The $39.9 million increase in net loss was primarily due to the increase in the non-cash charges related to the periodic revaluation of warrant liability of $29.6 million, which was primarily caused by the increase in the market price of Intercept's common stock, and an increase in non-cash stock-based compensation of $5.2 million. Licensing revenue decreased by $825,000 to $1.2 million for the nine months ended September 30, 2013, compared to $2.0 million for the corresponding period of the prior year, because the up-front payment related to the Servier collaboration was fully amortized as of the third quarter of 2012, and therefore no amortized revenue related to this upfront payment was recognized in 2013. Net loss was $55,424,000 against $12,953,000 a year ago.