Intercept Pharmaceuticals Inc. (ICPT) announced after the close Thursday that its investigational product obeticholic acid has received "breakthrough therapy designation" from the FDA. Obeticholic acid is used for the treatment of patients with nonalcoholic steatohepatitis with liver fibrosis.
Intercept Pharmaceuticals gapped open sharply higher Friday morning and is now up 28.31 at $198.50 on above average volume. The stock has jumped to nearly a 3-month high.
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