{"id":391980,"date":"2020-12-02T12:03:11","date_gmt":"2020-12-02T17:03:11","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=391980"},"modified":"2020-12-02T12:03:11","modified_gmt":"2020-12-02T17:03:11","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-intercept-pharmaceuticals-inc-icpt-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-intercept-pharmaceuticals-inc-icpt-2\/","title":{"rendered":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Intercept Pharmaceuticals, Inc. (ICPT)"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"both\">LOS ANGELES, Dec.  02, 2020  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=qs3TunQVjEAhqQ409T6lvMkTM6vl122Z7YNgVT1CG7Y4qJbVE6bPMF3fZ8HSh8b9VHXV7Sxt1L6gAkcEGZvWVcExdDS04UgIlbevQD9botI=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Glancy Prongay &amp; Murray LLP<\/a> (\u201cGPM\u201d) reminds investors of the upcoming <strong>January 4, 202<\/strong><strong>1 <\/strong>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Intercept Pharmaceuticals, Inc. (\u201cIntercept\u201d or the \u201cCompany\u201d) (NASDAQ: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=4Ch44CSnM5jNpc8zCZhOHUxA-WyBLEGHzRq8D9VB3OEc3da6nONRq-UQYVUbxvxuYmp7WF2y1Lm5sQqVN2tZ4w==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>ICPT<\/u><\/a>) securities between <strong>September 28, 2019 and October 7, 2020<\/strong> inclusive (the \u201cClass Period\u201d).<\/p>\n<p>If you suffered a loss on your Intercept investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=g3zqSBYrSVWoLr1DIH_dJHxS7ldFZvax-FNaJaFOMA8deeo5hR6WThb7Qs29rbrU0mcTIUQZQjyXRTUFIAMH903XuzgPqiXO1CaeLxsd8VM2WhZtG6h1gKwht-nLh7jewkaa8IAKVTtsbf1yG69wJVZrA7HsSMNIKzhh0eWOETdmsbnShXwHZyNFXEEqS9eGBUTZHuldYZDoEdv2-fdoSg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.glancylaw.com\/cases\/intercept-pharmaceuticals-inc\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=FPI55bnTIsBECu21uZxpt1Lwigp3IXR9H1vle1pOwYO7GWMxb4W_oWial3g4ftsgmO4d2WCdo4o_RVUZ8oVNZIOlJPZYRlP56hpyZKO2Mjsm_gNse1htmChPclVbz2lL\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a> to learn more about your rights.<\/p>\n<p>Intercept is a biopharmaceutical company that focuses on the development and commercialization of therapeutics to treat progressive non-viral liver diseases in the U.S. Its lead product candidate is Ocaliva (\u201cOCA\u201d) used for the treatment of primary biliary cholangitis (\u201cPBC\u201d). The Company is also developing Ocaliva for other indications, including nonalcoholic steatohepatitis (\u201cNASH\u201d).<\/p>\n<p>On May 22, 2020, Intercept stated that the U.S. Food and Drug Administration (\u201cFDA\u201d) \u201chas notified Intercept that its tentatively scheduled June 9, 2020 advisory committee meeting (AdCom) relating to the company\u2019s [NDA] for [OCA] for the treatment of liver fibrosis due to [NASH] has been postponed\u201d to \u201caccommodate the review of additional data requested by the FDA that the company intends to submit within the next week.\u201d<\/p>\n<p>On this news, Intercept\u2019s stock price fell $11.18 per share, or 12%, to close at $80.51 per share on May 22, 2020.<\/p>\n<p>On June 29, 2020, Intercept disclosed receipt of a Complete Response Letter (\u201cCRL\u201d) from the FDA rejecting its NDA for Ocaliva for the treatment of liver fibrosis due to NASH. According to the CRL, \u201c[t]he FDA recommends that Intercept submit additional post-interim analysis efficacy and safety data from the ongoing REGENERATE study in support of potential accelerated approval and that the long-term outcomes phase of the study should continue.\u201d<\/p>\n<p>On this news, the Company\u2019s stock price fell $30.79 per share, or nearly 40%, to close at $46.70 per share on June 29, 2020.<\/p>\n<p>On October 8, 2020, news outlets reported that the Company was \u201cfacing an investigation from the [FDA] over the potential risk of liver injury in patients taking Ocaliva, [Intercept\u2019s] treatment for primary biliary cholangitis, a rare, chronic liver disease.\u201d<\/p>\n<p>On this news, the Company\u2019s stock price fell $3.30 per share, or 8%, to close at $37.69 per share on October 8, 2020.<\/p>\n<p>The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Defendants downplayed the true scope and severity of safety concerns associated with Ocaliva\u2019s use in treating PBC; (2) the foregoing increased the likelihood of an FDA investigation into Ocaliva\u2019s development, thereby jeopardizing Ocaliva\u2019s continued marketability and the sustainability of its sales; (3) any purported benefits associated with OCA\u2019s efficacy in treating NASH were outweighed by the risks of its use; (4) as a result, the FDA was unlikely to approve the Company\u2019s NDA for OCA in treating patients with liver fibrosis due to NASH; and (5) as a result of all the foregoing, the Company\u2019s public statements were materially false and misleading at all relevant times.<\/p>\n<p>Follow us for updates on <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=4qE3q_XRjGRKYaHbLyn4Mqv1xF1zn5vEa8QpUyXCxae3viPc58lvEUsJETqC383pJg2MOTbzraVaUqs0Gy_b0679dBQEP4n6k_wwL20fhGwTTbr54VNuv7SlB2BCL9yn\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">LinkedIn<\/a>, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=8WEUnks8KgmJlOfTPvMfPMFMZgZE7qo18K5gmZ3ZjS3muhYAHdhKmbSPwRWUoS-atdD8K29e4BP6GNWFh2gywg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Twitter<\/a>, or <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=XA4USMAUHIq3xLVVCw07rUlVsiuUYsUKrj2m1H0hpSYtXjEqOk8MqbY-7oqPKQxNBKJufrutInO76AJi_layQ7ieDyhQ0uflAoTZ7w7pcjM=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Facebook<\/a>.<\/p>\n<p>If you purchased or otherwise acquired Intercept securities during the Class Period, you may move the Court no later than\u00a0<strong>January 4, 2021 <\/strong>to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to\u00a0learn more\u00a0about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=FPI55bnTIsBECu21uZxpt1Lwigp3IXR9H1vle1pOwYMq6WfAb756ZFxM2zAJANXAwrZjuKuCeIvPcfxpWETkalXs9vDpDgnWnRcgTec_xuabnRdFrGqbxuskv2IvPTE_\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a>, or visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=w__-B_8lxhY8piRiHmfkpg41z-G_AkdU6xr8HKwW6wn8Qy0__gU4T0FZloQH09zyh35xlNzNaqrYigbInGzjFg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.<\/p>\n<p>This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n<p>\n        <strong>Contacts <\/strong><br \/>\n        <br \/>Glancy Prongay &amp; Murray LLP, Los Angeles <br \/>Charles Linehan, 310-201-9150 or 888-773-9224 <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=FPI55bnTIsBECu21uZxpt1Lwigp3IXR9H1vle1pOwYMs7J4WK2FRQe4umA0UcQxQl9WSLoR6iv-WeI-CIhtCy72Dc_UHuvKTGEIXTIN8Lkz9zyrnv6Ta5B40HRYHDcKS\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=w__-B_8lxhY8piRiHmfkpk1NcuR_i4X8zcD_QNeF1-hpzg6jzn1UOmJ6mntXgZ179T3Qt2aWzmDjFrAj6KZgWPXm2u3dGAAZFz7MZ-FBKLU=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a><\/p>\n<p>\u00a0<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NTIzMiMzODUxNjkxIzIwMTcyOTE=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/84e77e84-0ac4-4456-bcab-ee5157791959\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>LOS ANGELES, Dec. 02, 2020 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming January 4, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Intercept Pharmaceuticals, Inc. (\u201cIntercept\u201d or the \u201cCompany\u201d) (NASDAQ: ICPT) securities between September 28, 2019 and October 7, 2020 inclusive (the \u201cClass Period\u201d). If you suffered a loss on your Intercept investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/intercept-pharmaceuticals-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-intercept-pharmaceuticals-inc-icpt-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Intercept Pharmaceuticals, Inc. (ICPT)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-391980","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Intercept Pharmaceuticals, Inc. (ICPT) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-intercept-pharmaceuticals-inc-icpt-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Intercept Pharmaceuticals, Inc. (ICPT) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"LOS ANGELES, Dec. 02, 2020 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming January 4, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Intercept Pharmaceuticals, Inc. (\u201cIntercept\u201d or the \u201cCompany\u201d) (NASDAQ: ICPT) securities between September 28, 2019 and October 7, 2020 inclusive (the \u201cClass Period\u201d). If you suffered a loss on your Intercept investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/intercept-pharmaceuticals-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to &hellip; Continue reading &quot;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Intercept Pharmaceuticals, Inc. 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(ICPT) - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-intercept-pharmaceuticals-inc-icpt-2\/","og_locale":"en_US","og_type":"article","og_title":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Intercept Pharmaceuticals, Inc. (ICPT) - Market Newsdesk","og_description":"LOS ANGELES, Dec. 02, 2020 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming January 4, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Intercept Pharmaceuticals, Inc. (\u201cIntercept\u201d or the \u201cCompany\u201d) (NASDAQ: ICPT) securities between September 28, 2019 and October 7, 2020 inclusive (the \u201cClass Period\u201d). If you suffered a loss on your Intercept investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/intercept-pharmaceuticals-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to &hellip; Continue reading \"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Intercept Pharmaceuticals, Inc. (ICPT)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-intercept-pharmaceuticals-inc-icpt-2\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-02T17:03:11+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NTIzMiMzODUxNjkxIzIwMTcyOTE=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-intercept-pharmaceuticals-inc-icpt-2\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-intercept-pharmaceuticals-inc-icpt-2\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Intercept Pharmaceuticals, Inc. 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