Shares of ICPT are through the roof, after reports surfaced the company might be shopping itself. For me, this is very low brow shit, especially since the stock has been decapitated in recent months. Nevertheless, maybe they’ll be able to hoodwink GILD or ABBV to pay them absurd amounts of coin for a drug in development.
The drug in question can reverse cirrhosis of the liver, allegedly.
The U.S. Food and Drug Administration has scheduled an advisory committee to review the company’s obeticholic acid oral tablets for the treatment of primary biliary cirrhosis on April 7.
A major untapped market for the medicine, however, is non-alcoholic steatohepatitis, which analysts estimate may reach $35 billion in sales. The company is collecting data needed to win approval to treat the condition in final studies involving as many as 2,500 patients for 72 weeks.
ICPT is down 58% over the past 9 months, like an evil baby.
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Hoodwink or convince, call it anything in the event Gilead is the interested party. The market is painstakingly waiting for GILD to buy something; hell they could buy Twitter, and Gilead would go up 10%. If it is them, I have high expectations that ICPT’s studies are the truth. GILD was willing to cough up $11B on Pharmasset, which lead to their domination of HCV. ICPT’s market cap is just under $3B. A true steal as compared to the Pharmasset purchase. They’ve been extremely selective and they do their due diligence.
Awaiting moderation…Come on
the Wells Fargo analyst denies the possibility of it happening anytime soon.
most of these “buyout” rumors are dogshit.
I’ll be getting short ICPT after the rally we have next week & before their earnings in March
$ICPT March earning are largely a non-event, still driven my development stage product suite. Adcom on April 7th is more important. Tough name to short (small float) I have found out the hard way, but I’ve had better luck from the long side and ICPT “T-account” still highly positive. This is a steal sub $100 in my mind as eventual take-out price will have a 2 handle minimum. Asymmetrical payoff for a malady that has proven very difficult to treat (fatty liver).