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Intercept Pharmaceuticals (Nasdaq: ICPT) | Company Profile, History, Competitors

 

Intercept Pharmaceuticals (NASDAQ: ICPT) is a biopharmaceutical company focused on development and commercialization of treatments for chronic liver diseases.

ICPT's leading drug candidate, obeticholic acid (OCA), is a bile acid with potential liver-protective features. OCA is being marketed for Primary Biliary Cirrhosis (PBC) and in development for Non-Alcoholic SteatoHepatitis (NASH) and Primary Sclerosing Cholangitis (PSC).

Key Product Portfolio (2017)


 Brand      Status       Description
 OCA  Commercialization  Primary Biliary Cholangitis (PBC)
 OCA  Phase 3  Non-Alcoholic SteatoHepatitis (NASH)
 OCA  Phase 2  Primary Schlerosing Cholangitis (PSC)
 INT-767  Phase 2  Non-Alcoholic SteatoHepatitis (NASH)

OCA Drug Candidate

OCA is the leading product for Intercept Pharmaceuticals. OCA decreases cholesterol synthesis, which reduces bile acid concentrations and promotes the flow of bile acid out of the liver. OCA modulates FXR, which has key involvement in liver metabolic, inflammatory and fibrotic pathways. 

OCA is approved for PBC, and in tests for NASH and PSC.

NASH Market

OCA is undergoing Phase 3 trials for Non-Alcoholic SteatoHepatitis (NASH).

NASH is a disease caused by inflammation of the liver in overweight individuals. NASH begins as non-alcoholic fatty liver disease from which fatty buildup leads to inflammation. Chronic inflammation leads to fibrosis and cirrhosis. NASH is estimated to affect up to 5% of the US population*

There are currently no approved drugs for NASH as of 2017. 

Risks

OCA is undergoing Phase 3 trials. Phase 3 data may not support prior Phase 2 data.

ICPT's products for PBC may not ramp up as quickly as expected.

Management

Mark Pruzanski M.D. (CEO): Mark Pruzanski serves as CEO and co-founder since 2002. Prior, he was a partner at Apple Tree Partners, a biotech venture capital firm. He received a BA from McGill University and MD from McMaster University in Ontario.

Sandip Kapadia (CFO): Sandip Kapadia serves as CFO since 2016. Prior, he was CFO North America at Sandoz and CFO UK for Novartis Pharmaceuticals.

Financials

 $ in millions     2013     2014  2015  2016  2017
 Revenues  $2  $2  $3  $25  $131 
 Gross Profit $2  $2  $3  $25  $130 
 Operating Profit  ($40) ($113)($229)($403)($336)
 Net Income  ($68) ($283) ($226)  ($413)  ($360)
 EPS  ($3.76)  ($13.63) ($9.56) ($16.74) ($14.38)