Intercept down 7% premarket

|About: Intercept Pharmaceuticals (ICPT)|By:, SA News Editor

Despite the announcement of positive phase III results for obeticholic acid, shares of Intercept Pharmaceuticals (ICPT) are poised for a gap down at the open.

According to Adam Feuerstein, the product caused cardiovascular side effects in a separate phase II trial. This was disclosed in the company's recent 10-K. Intercept says the side effects are insignificant.