LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Intercept Pharmaceuticals, Inc. (“Intercept” or “the Company”) (NASDAQ: ICPT) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Intercept disclosed the receipt of a complete response letter ("CRL") from the FDA on June 29, 2020. The CRL was in regard to the Company’s NDA for obeticholic acid ("OCA") for the treatment of fibrosis due to nonalcoholic steatohepatitis ("NASH"). In the CRL, the FDA stated: "the predicted benefit of OCA based on a surrogate histopathologic endpoint remains uncertain and does not sufficiently outweigh the potential risks to support accelerated approval for the treatment of patients with liver fibrosis due to NASH." Based on this news, shares of Intercept fell by almost 40%.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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