ICPT - Intercept Pharma strengthens financial position through significant debt reduction

September, 21 2022 11:03 AM Intercept Pharmaceuticals Inc.

Intercept Pharmaceuticals ( NASDAQ: ICPT ) has reduced its outstanding debt by 54% to $336.3M as the company seeks to improve its capital structure.
In addition, the company has decreased its annual cash interest expense by 58% to $9.8M on an annual basis.
As a result, Intercept's ( ICPT ) cash position has increased to more than $500M.
Despite the improvements, shares are down 14% in Wednesday morning trading.
Chgeck out why Seeking Alpha contributor Edward Zhang considers Intercept ( ICPT ) a sell.

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Company Name:	Intercept Pharmaceuticals Inc.
Stock Symbol:	ICPT
Market:	NASDAQ
Website:	interceptpharma.com