Intercept Pharmaceuticals, Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat chronic liver diseases utilizing its bile acid chemistry. The Company’s product candidate, obeticholic acid (OCA), is a bile acid analog, a chemical substance that has a structure based on a naturally occurring human bile acid that selectively binds to and activates the farnesoid X receptor (FXR). The Company is also developing other products INT-767 and INT-777 for the treatment of fibrosis and type 2 diabetes. OCA has been tested in five placebo-controlled clinical trials, including a completed Phase III clinical trial in patients with primary biliary cirrhosis (PBC) and two Phase II clinical trials in patients with nonalcoholic fatty liver disease (NAFLD), and nonalcoholic steatohepatitis (NASH). OCA met the primary efficacy endpoint in each of these trials with statistical significance.