An investigation on behalf of investors of Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT) shares over potential securities laws violations by Intercept Pharmaceuticals, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT) concerning whether a series of statements by Intercept Pharmaceuticals, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

New York based Intercept Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the development and commercialization of therapeutics to treat progressive non-viral liver diseases in the United States, Europe, and Canada. Intercept Pharmaceuticals, Inc. reporte that its annual Total Revenue rose from $179.8 million in 2018 to $252.00 million in 2019 and that its normalized Loss increased from $309.24 million in 2019 to $344.68 million in 2019.

On October 8, 2020, news outlets reported that Intercept Pharmaceuticals, Inc. was facing an investigation from the U.S. Food and Drug Administration over the potential risk of liver injury in patients taking Ocaliva, [Intercepts] treatment for primary biliary cholangitis, a rare, chronic liver disease.

Shares of Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT) declined from $125.00 per share in late 2019 to as low as $27.83 per share on October 23, 2020.