Intercept Pharmaceuticals (ICPT) sells 5M shares at $15 each, the top end of the expected price...

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

Intercept Pharmaceuticals (ICPT) sells 5M shares at $15 each, the top end of the expected price range, in its Nasdaq IPO. The biotech will receive net proceeds of $68.3M, which it will use to develop its obeticholic acid treatment for a rare autoimmune liver disease called primary biliary cirrhosis. The drug has orphan status in the U.S. and Europe, and is in Phase III trials.