Intercept liver disease drug meets main goal in study, shares soar

[January 09, 2014]  (Reuters) — Intercept Pharmaceuticals Inc said an analysis by an independent safety committee showed that its liver disease drug met the main goal of a mid-stage trial, sending the company's shares soaring.

Intercept shares more than doubled to $169 in premarket trading on Thursday.

The company said it had stopped the trial after the committee found that the drug, obeticholic acid, showed statistically significant improvement in patients, compared with a placebo.

Nasdaq-listed Intercept said the committee made the recommendation after reviewing liver biopsy data from about half of the 283 patients enrolled in the trial.

The trial tested the drug in patients with non-alcoholic steatohepatitis, a form of liver inflammation caused by a build-up of fat.

(Reporting by Vrinda Manocha in Bangalore; editing by Kirti Pandey)

[© 2014 Thomson Reuters. All rights reserved.]

Copyright 2014 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.