Why Intercept Pharmaceuticals Stock Plunged Today
Shares of the non-viral liver disease specialist Intercept Pharmaceuticals (NASDAQ: ICPT) are under heavy pressure today. The big loss came in response to weaker-than-expected 2023 first-quarter sales of Intercept's primary biliary cholangitis (PBC) therapy, Ocaliva (obeticholic acid). This relatively modest revenue miss probably isn't the reason Intercept's shares are falling today.