Intercept Pharma (ICPT) Announces Restructuring
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Intercept Announces Restructuring to Strengthen Focus on Rare and Serious Liver Diseases and Significantly Reduce Operating Expenses
June 23, 2023 6:30 AM EDTMeasures reinforce Companys ability to drive growth in PBC business and continue developing innovative new medicines Company to discontinue all NASH-related investment and reduce workforce by approximately one third Company anticipates achieving profitability in 2024R&D investment prioritized on fixed-dose combination of OCA and bezafibrate with potential to establish best-in-class clinical benefits in the treatment of PBCCompany lowers 2023 non-GAAP adjusted operating expense guidance to $350$370 million, inclusive of restructuring costs; reiterates 2023 Ocaliva net sales guidance of $310$340... More
