- 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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Intercept Pharma strengthens financial position through significant debt reduction