LOS ANGELES–(BUSINESS WIRE)–$ICPT #classaction—The Law Offices of Frank R. Cruz announces an investigation on behalf of Intercept Pharmaceuticals, Inc. (“Intercept” or the “Company”) (NASDAQ: ICPT) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On June 29, 2020, Intercept disclosed receipt of a complete response letter (“CRL”) from the U.S. Food and Drug Administration (“FDA”) regarding the New Drug Application for obeticholic acid (“OCA”) for the treatment of fibrosis due to nonalcoholic steatohepatitis (“NASH”). According to the CRL, the FDA found that “the predicted benefit of OCA based on a surrogate histopathologic endpoint remains uncertain and does not sufficiently outweigh the potential risks to support accelerated approval for the treatment of patients with liver fibrosis due to NASH.”
On this news, the Company’s share price fell as much as $29.78, or 38%, during intraday trading on June 29, 2020.
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If you purchased Intercept securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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