Shares of Intercept Pharmaceuticals went into overdrive this morning, soaring a remarkable 125% on the surprise news that a Phase IIb clinical study for its lead drug funded largely by the NIH ended early after achieving the primary endpoint.
After taking a beating in previous years, biotech has been hot sector on Wall Street this year. The Nasdaq Biotech Index has shot up 30% this year compared with 15% growth in the broader market. And the fact that this year's total number of biotech IPOs already matches that of 2011 indicates that there could be a growing appetite for these types of investments. But there's no indication that we're on the verge of, or will ever, return to the go-go years of the 1990s when biotechs more easily went public at lofty values. Here's the full report >>
The life sciences industry gained a blast of good news on the venture front today. The National Venture Capital Association and PricewaterhouseCoopers outlined a buoyant set of numbers for the...
In a rare day for biotech IPOs, Kythera Biopharmaceuticals and Intercept Pharmaceuticals hit the public markets Thursday with prices at the high end of anticipated ranges and big jumps in value. It's up for debate what the huge day for the two biotech IPOs means for other drug developers angling to go public, and in some ways Kythera and Intercept appear to be unique cases in the biopharma industry.
Just days after rounding up $30 million in venture cash, New York-based Intercept Pharmaceuticals is boldly gambling that investors will cough up about $75 million to buy into a late-stage orphan drug for chronic liver disease. The biotech filed for an ambitious IPO, hoping it can avoid the price cuts that most other such development-stage biotech bids have been forced to endure in recent years.
Intercept Pharmaceuticals has wrapped up a $30 million Series C round as the drug developer conducts a pivotal trial of its lead drug for treating patients with a rare liver disease. OrbiMed Advisors chipped in with the lead investment for the third-round financing and gained two seats on the developer's board of directors, the company said late Thursday.
Intercept Pharmaceuticals has struck a $165 million deal with Les Laboratoires Servier to collaborate on new TGR5 agonists for diabetes and other metabolic ailments. "We are very happy to enter into
Japan's Dainippon Sumitomo is slapping down $15 million and promising up to $300 million more in milestones in exchange for the rights to Intercept Pharmaceuticals' late-stage liver disease drug in
Intercept Pharmaceuticals' majority shareholder, the Italian biotech Genextra, is pumping a $25 million Series B into its coffers. "This financing is recognition of the success we have had advancing