Intercept Pharmaceuticals, Inc. (Nasdaq:ICPT), a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat progressive non-viral liver diseases, today announced that it has priced its upsized underwritten public offering of 2,343,750 shares of its common stock at a price to the public of $64.00 per share. In addition, in connection with the public offering, Intercept has granted to the underwriters a 30-day option to purchase up to an additional 351,563 shares of its common stock at the same price as the initial shares sold to the underwriters.

Intercept currently has one product on the market, Ocaliva (obeticholic acid). Ocaliva was approved by the FDA in May of 2016 and is used to treat primary biliary cholangitis, previously known as primary biliary cirrhosis (PBC), in combination with ursodeoxycholic acid (UDCA) in adults with an inadequate response to UDCA or as monotherapy in adults unable to tolerate UDCA.

Ocaliva has a new chemical entity (NCE) exclusivity until 05/27/2021 and an orphan drug exclusivity (ODE) unitl 5/27/23. Four patents are listed in the Orange Book with three expiring in 2022 and one in 2033.

Obeticholic acid, is also in clinical trials for several additional chronic liver diseases.  These include: nonalcoholic steatohepatitis (NASH), primary sclerosing cholangitis (PSC), and biliary atresia.