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New Federal Securities Cases

Intercept Pharmaceuticals, Inc.

A class action lawsuit has been filed in the United States District Court for the Southern District of New York against Intercept Pharmaceuticals, Inc. ("Intercept" or the "Company") (NASDAQ:ICPT) and certain of its officers, on behalf of investors who purchased or otherwise acquired Intercept securities during the period from May 31, 2016 through September 20, 2017 (the "Class Period"). The lawsuit seeks to recover damages under the federal securities laws.

Intercept manufactures and markets biopharmaceutical products. The Company focuses on the development and commercialization of therapeutics to treat chronic liver diseases utilizing proprietary bile acid chemistry. The Company's lead product candidate, Ocaliva (obeticholic acid, or OCA), is a bile acid analog, a chemical substance that has a structure based on a naturally occurring human bile acid, that selectively binds to and activates the farnesoid X receptor, or FXR. On May 31, 2016, Intercept announced that the U.S. Food and Drug Administration ("FDA") had approved Ocaliva for the treatment of patients with primary biliary cholangitis ("PBC").

The lawsuit alleges that throughout the Class Period, Defendants failed to disclose that Ocaliva entailed undisclosed safety risks, including death, to patients suffering from PBC.

On September 12, 2017, Intercept issued a letter warning physicians against overdosing patients with Ocaliva, advising them that the drug has been tied to liver injuries and death among patients suffering from PBC. On this news, Intercept's share price fell from $113.48 to $98.12 per share, damaging investors.

Then, on September 21, 2017, the FDA issued a safety announcement entitled "FDA Drug Safety Communication: FDA warns about serious liver injury with Ocaliva for rare chronic liver disease," warning doctors after reports of multiple deaths linked to the drug. On this news, Intercept's share price fell from $98.12 to $73.70, further damaging investors.

If you acquired Intercept securities during the Class Period, you may, no later than November 27, 2017, request the court to appoint you lead plaintiff of the class. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions that could affect the overall recovery for class members, including decisions concerning settlement.

If you are a current or former Intercept shareholder and wish to obtain additional information, please fill out the contact form at the link below.

Investigation Contact Form

Intercept Pharmaceuticals, Inc.


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