Report
Kelsey Tsai
EUR 101.80 For Business Accounts Only

Intercept's OCA is a leader in the NASH race, but the space is becoming increasingly crowded.

In its first-quarter release, Intercept announced that the enrollment of an interim cohort for its pivotal liver disease trial Regenerate is now complete, which sets up an interim read-out for the first half of 2019. While the company had recently scaled back its interim trial cohort to 750 from 1,400 patients after finalizing the definition of its primary endpoint, the news removes some uncertainty regarding the trial’s timeline. We do not expect to change our $205 per share fair value estimate...
Underlying
Intercept Pharmaceuticals Inc.

Intercept Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of therapeutics to treat progressive non-viral liver diseases. The company's marketed product, Ocaliva? (obeticholic acid or OCA), is an farnesoid X receptor agonist approved in the U.S., the European Union and several other jurisdictions for the treatment of primary biliary cholangitis in combination with ursodeoxycholic acid (UDCA) in adults with an inadequate response to UDCA or as monotherapy in adults unable to tolerate UDCA. In addition to, the company is developing OCA for multiple indications, including nonalcoholic steatohepatitis.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Kelsey Tsai

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