Intercept Pharma Stock Tumbles: FDA Panel Votes Against Intercept's Fatty Liver Drug, Dashing Its Dreams To Enter NASH Space
Portfolio Pulse from Vandana Singh
Intercept Pharmaceutical's Ocaliva 25 mg, a drug for nonalcoholic steatohepatitis (NASH) patients, faced a setback as the FDA's Gastrointestinal Drugs Advisory Committee voted against its benefits, stating they don't outweigh the risks. The FDA highlighted an increased risk of diabetes and liver injury from using OCA oral tablets to treat NASH.
May 22, 2023 | 1:01 pm
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Intercept Pharmaceutical's stock tumbles as FDA panel votes against its NASH drug, Ocaliva 25 mg, stating risks outweigh benefits. Shares are down 11.90%.
The FDA panel's vote against Intercept Pharmaceutical's Ocaliva 25 mg for NASH patients is a significant setback for the company. The panel's concerns about the drug's risk-benefit profile, including increased risk of diabetes and liver injury, will likely have a negative impact on the stock price in the short term, as evidenced by the 11.90% drop in premarket trading.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100