- Intercept Pharmaceuticals Inc (NASDAQ:ICPT) announced a summary of its actions to improve its capital position, including the recently announced private repurchases of senior secured convertible notes.
- Intercept is a biopharmaceutical company focused on developing and commercializing therapeutics for progressive non-viral liver diseases, including primary biliary cholangitis and nonalcoholic steatohepatitis.
- Related: Intercept Settles Ocaliva Litigation With Reddy’s Lab.
- Intercept has been able to lower principal debt outstanding by 54%, or $388.9 million to $336.3 million, and decrease annual cash interest expense by 58%, or $13.6 million to $9.8 on an annual basis.
- In addition, these activities reduced overall potential shareholder dilution associated with the secured convertible notes.
- Intercept used a combination of cash from the sale of its international business and stock to fund the 2022 transactions.
- The net result has allowed Intercept to grow its cash position to over $500 million, driving an improvement in net debt of approximately $450 million.
- Price Action: ICPT shares are down 14% at $15.37 on the last check Wednesday.
Verde Clean Fuels, Inc. Announce Completion Of Business Combination Between CENAQ Energy Corp. And Bluescape Clean Fuels; Verde Will Be Traded On The Nasdaq Capital Markets Starting On February 16 Under The Symbol “VGAS”
Verde Positioned to be Leading Provider of Renewable Gasoline
Verde Announces Joint Venture with Diamondback Energy in Permian Basin
Verde Clean Fuels, Inc. ("Verde"), a company focused on becoming leading
