Intercept Pharmaceuticals Announces 1.73M Share Offering

Intercept Pharmaceuticals, Inc. ICPT, a clinical stage biopharmaceutical company focused on the development and commercialization of novel bile acid therapeutics to treat chronic liver diseases, today announced that it has commenced an underwritten public offering of 1,730,000 shares of its common stock.  All of the shares in the offering are to be sold by Intercept. BofA Merrill Lynch and Citigroup are acting as joint book-running managers, BMO Capital Markets is acting as lead manager and Needham & Company, Wedbush PacGrow Life Sciences and Janney Montgomery Scott are acting as co-managers for the proposed offering.  Intercept intends to grant the underwriters a 30-day option to purchase up to 259,500 additional shares of common stock. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Intercept intends to use substantially all of the net proceeds of this offering to fund (i) the development of its lead product candidate, obeticholic acid (OCA), for additional indications beyond primary biliary cirrhosis (PBC); (ii) the continuation of the long-term safety extension portion of its POISE See full press release