Oct. 14, 2021, 6:58 a.m. EDT

The Next Biotech Winners After the Vaccine Bubble Burst (ATRX, INMB, DVAX, SAVA, ICPT, IMGN, IBB, MRK, AZN)

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Intercept Pharmaceuticals Inc /zigman2/quotes/202434567/composite ICPT +7.96% recently announced that it has entered into privately negotiated agreements with certain of the holders of its existing 3.25% Convertible Senior Notes due 2023 (the "2023 Notes") to repurchase an aggregate of $39.9 million principal amount of 2023 Notes for $38.1 million in cash. The repurchase is expected to close promptly, subject to and following customary closing conditions.

Net of this repurchase and the previously announced convertible notes exchange, Intercept's 2023 Notes have been reduced from $460.0 million principal balance to $113.7 million principal balance. Jerry Durso, President and Chief Executive Officer, said, "With this repurchase, and our previously announced convertible notes transactions, Intercept has retired over 75% of our 2023 debt maturity obligation. We retain a strong position of cash, cash equivalents, restricted cash and investment debt securities available for sale, and the recent actions to manage our debt obligations will allow us to focus on executing our business plan."

If you're long this stock, then you're liking how the stock has responded to the announcement. ICPT shares have been moving higher over the past week overall, pushing about 21% to the upside on above average trading volume.

Intercept Pharmaceuticals Inc /zigman2/quotes/202434567/composite ICPT +7.96% managed to rope in revenues totaling $96.6M in overall sales during the company's most recently reported quarterly financial data — a figure that represents a rate of top line growth of 25%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels exceeding current liabilities ($422.5M against $145.3M).

Other key small-cap biotech plays include iShares Biotechnology ETF /zigman2/quotes/206189322/composite IBB +0.65% , Cassava Sciences Inc /zigman2/quotes/204212356/composite SAVA +0.42% , INmune Bio Inc /zigman2/quotes/206182062/composite INMB +2.57% , and ImmunoGen, Inc. /zigman2/quotes/208003500/composite IMGN +0.46% .

Please make sure to read and completely understand our disclaimer at https://www.wallstreetpr.com/disclaimer . We may be compensated for posting this content on our website by EDM Media LLC. For questions, comments or suggestions please contact ir@edm.media.

The post The Next Biotech Winners After the Vaccine Bubble Burst (ATRX, INMB, DVAX, SAVA, ICPT, IMGN, IBB, MRK, AZN) appeared first on Wall Street PR .

COMTEX_395176331/2770/2021-10-14T06:57:31

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/zigman2/quotes/202434567/composite
US : U.S.: Nasdaq
$ 17.76
+1.31 +7.96%
Volume: 868,854
Jan. 14, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$524.75 million
Rev. per Employee
$711,510
loading...
/zigman2/quotes/202434567/composite
US : U.S.: Nasdaq
$ 17.76
+1.31 +7.96%
Volume: 868,854
Jan. 14, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$524.75 million
Rev. per Employee
$711,510
loading...
/zigman2/quotes/206189322/composite
US : U.S.: Nasdaq
$ 138.95
+0.90 +0.65%
Volume: 2.70M
Jan. 14, 2022 4:00p
loading...
/zigman2/quotes/204212356/composite
US : U.S.: Nasdaq
$ 45.88
+0.19 +0.42%
Volume: 1.41M
Jan. 14, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.84 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206182062/composite
US : U.S.: Nasdaq
$ 8.78
+0.22 +2.57%
Volume: 190,945
Jan. 14, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$156.66 million
Rev. per Employee
$5,783
loading...
/zigman2/quotes/208003500/composite
US : U.S.: Nasdaq
$ 6.49
+0.03 +0.46%
Volume: 2.61M
Jan. 14, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.43 billion
Rev. per Employee
$1.62M
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