Intercept Pharmaceuticals, INC.: management transactions · United States · SEC (Form 4)

About Intercept Pharmaceuticals, INC.

Intercept Pharmaceuticals, Inc. is a U.S.-based biopharmaceutical company focused on rare and serious liver diseases. The company is listed on the NASDAQ market under the ticker ICPT and is headquartered in Morristown, New Jersey, in the United States. Founded in 2002, Intercept built its identity around the research, development, and commercialization of therapies aimed at high-unmet-need conditions in hepatology. The company’s public materials also emphasize its entrepreneurial origins, noting that it started as a vision in its founder’s small New York City apartment. ([interceptpharma.com](https://www.interceptpharma.com/?utm_source=openai)) Intercept’s business model has historically been centered on liver-disease franchises, especially primary biliary cholangitis (PBC), alongside broader work in rare and severe hepatic conditions such as severe alcohol-associated hepatitis (sAH). Its flagship commercial asset was Ocaliva (obeticholic acid), a farnesoid X receptor, or FXR, agonist developed for PBC. The company’s scientific narrative has been closely tied to FXR biology, which it describes as a core research platform with potential therapeutic application across multiple liver diseases. In practical terms, Intercept has been a highly specialized hepatology company rather than a diversified broad-based pharma player. ([interceptpharma.com](https://www.interceptpharma.com/?utm_source=openai)) From a competitive standpoint, Intercept carved out a niche in a small but medically important market with significant unmet need. That specialization gave it clinical and regulatory visibility, but it also meant a heavy dependence on a limited number of assets. Ocaliva became the company’s principal marketed product for years, making Intercept far more concentrated than large-cap peers. The company also reshaped its geographic footprint when it completed the transfer of ex-U.S. commercialization rights for Ocaliva to Advanz Pharma in 2022, effectively narrowing its commercial footprint and simplifying its international operating structure. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001270073/000110465922076890/tm2220300d1_ex99-1.htm?utm_source=openai)) The most important recent development is the voluntary withdrawal of OCALIVA from the U.S. market, effective November 14, 2025, according to Intercept. That action materially changes the company’s revenue profile and marks a major strategic inflection point, as the historical core asset has exited the market. Intercept also notes that certain portfolio assets are now owned by its parent company Alfasigma S.p.A., reflecting the post-merger ownership structure announced in 2023. For investors, ICPT should therefore be viewed as a U.S. specialty biotech with a strong scientific legacy, a narrow therapeutic focus, and a business profile that has been substantially redefined by the recent withdrawal of its lead product. ([interceptpharma.com](https://www.interceptpharma.com/uploads/2025/11/Intercept%20Pharmaceuticals%20Statement%20Regarding%20Withdrawal%20of%20OCALIVA%20From%20the%20US%20Market.pdf?utm_source=openai))