Stock Update (NASDAQ:ICPT): Intercept Announces Promotion of Lisa Bright to Chief Commercial & Corporate Affairs Officer

Intercept Pharmaceuticals Inc (NASDAQ:ICPT), a clinical stage biopharmaceutical company focused on the development and commercialization of novel bile acid therapeutics to treat chronic liver diseases, announced that Lisa Bright has been promoted to the newly-created position of Chief Commercial and Corporate Affairs Officer. Ms. Bright joined Intercept last year from Gilead Sciences where her leadership of the European launch of Sovaldi for the treatment of chronic hepatitis C contributed to the most successful product launch in pharmaceutical history.

Intercept’s first product is obeticholic acid (OCA), a first-in-class FXR agonist being developed for primary biliary cirrhosis (PBC), nonalcoholic steatohepatitis (NASH) and other chronic liver indications. The company has initiated a rolling New Drug Application with the FDA in PBC and is planning for the commercial launch of OCA in PBC in the U.S. and Europe in 2016. OCA was also recently designated a breakthrough therapy by FDA for the treatment of NASH with liver fibrosis.

“Lisa has a wealth of experience in building a global hepatology franchise that is directly relevant to planning and implementing OCA’s launch,” said Dr. Mark Pruzanski, M.D., President and CEO of Intercept. “Lisa has been a great addition to the senior management team as we position Intercept to become the leader in addressing the unmet needs of innumerable patients with neglected liver diseases worldwide who currently have very limited treatment options.”

In her new role, Ms. Bright will lead the company’s Commercial organization and a newly created Corporate Affairs group focused on government and public affairs, as well as patient advocacy. Ms. Bright replaces Dan Regan, a 20-year pharmaceutical industry veteran, who is leaving the company. “I want to thank Dan for all of his contributions in creating the foundation for our upcoming PBC launch and wish him continued success,” said Dr. Pruzanski.

Prior to joining Intercept, Ms. Bright held positions of increasing responsibility at Gilead Sciences, including Vice President, Northern Europe, and most recently Vice President, Head of Sovaldi Launch Planning for Europe, Asia, Middle East and Australasia and Vice President, Head Government Affairs for Europe, Middle East and Australasia. Prior to Gilead, she held a range of senior leadership positions over a 10-year tenure at GSK, including Vice President & Managing Director of GSK’s New Zealand operations and Vice President and Head of Sales, UK.

Shares of Intercept Pharmaceuticals closed¬†today at $215.53 . ICPT has a 1-year high of $484.99 and a 1-year low of $128.50. The stock’s 50-day moving average is $175.40 and it’s 200-day moving average is $208.20.

On the ratings front, the company¬†has been the subject of a number of recent research reports. In a report issued on February 5, Wedbush analyst Liana Moussatos reiterated a Buy rating on ICPT. Separately, on January 30, Summer Street’s James Molloy reiterated a Buy rating on the stock and has a price target of $650.

Intercept Pharmaceuticals Inc is a development stage, Biopharmaceutical Company engaged in the development and commercialization of novel therapeutics to treat chronic liver disease utilizing its proprietary bile acid chemistry.

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