Intercept Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of therapeutics to treat chronic liver disease. The Company�s lead product candidate, obeticholic acid (OCA), is a bile acid analog and first-in-class agonist of the farnesoid X receptor or FXR, which it has liver-protective properties. It is developing OCA initially for the second line treatment of primary biliary cirrhosis (PBC). It owns worldwide rights to OCA outside of Japan and China, where it has licensed the compound to Dainippon Sumitomo Pharma (DSP), and granted it an option to license OCA in certain other Asian countries. The Company has completed two randomized, placebo-controlled Phase II trials of OCA in PBC patients. The Company�s Phase III POISE trial has been designed to study the safety and efficacy of OCA in patients with an inadequate therapeutic response to ursodiol or it is unable to tolerate ursodiol.