Put Options on ICPT on 9/8/2020

Intercept Pharmaceuticals, Inc. (ICPT) focuses on the development and commercialization of therapeutics to treat progressive non-viral liver diseases in the United States, Europe, and Canada.

Its lead products candidate is the Ocaliva, a farnesoid X receptor agonist used for the treatment of primary biliary cholangitis (PBC) in combination with ursodeoxycholic acid in adults.

The company is also developing Ocaliva for various indications, including nonalcoholic steatohepatitis (NASH); and several other product candidates in various stages of clinical and preclinical development.

It has a license agreement with Sumitomo Dainippon Pharma Co. Ltd. for the research, development, and commercialization of OCA as a therapeutic for the treatment of PBC and NASH in Japan and China; and Aralez Pharmaceuticals Canada Inc to develop and commercialize bezafibrate in the United States. The company markets its products through an internal commercial organization, a contract sales organization, and third-party distributors.

Shares have broken below all support levels after FDA rejected the company's drug application. The company was forced to layoff staff recently to slow down its cash burn. Lower share prices are expected. See our blog abour Intercept.

We will be trading September 18th Puts

Last Trade: $45.24

Trading Range: $42.19 to $125.00

Trade Buy 1 September $45.00 Put at $2.30 For a net debit of $2.30 Profit/Loss Analysis Breakeven at $42.70 Maximum profit is unbounded Maximum loss is ($230.00) at strike of $45.00 Closing Summary Sold 1 September $45.00 Put at $2.05

Position closed on 9/18/2020 at price of $2.05 with a -10.87% loss in 10 days.

Updates

9/18/2020 12:00:23 PM

ICPT $45 Put option closed at $2.05

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