ADA 2023 Key Press Releases (June 23)
On the first day of ADA 2023, two cardiometabolic-related news items were observed from BI/Lilly and Intercept. Below, FENIX provides context and analysis for the announcements.
On the first day of ADA 2023, two cardiometabolic-related news items were observed from BI/Lilly and Intercept. Below, FENIX provides context and analysis for the announcements.
Intercept Pharmaceuticals announced it received a CRL from FDA regarding the obeticholic acid (OCA) NDA for the treatment of pre-cirrhotic liver fibrosis due to NASH. According to the press release, FDA indicated in the CRL that any resubmission of an NDA for OCA in NASH would require, at minimum, successful completion of the long-term outcomes phase of the REGENERATE study (view CT.gov record). As a result of the CRL, Intercept has decided to discontinue all NASH-related investment and restructure the company’s operations to strengthen its focus on rare and serious liver diseases. Below, FENIX provides brief thoughts on the CRL and Intercept’s decision.
Today, FDA held a Gastrointestinal Drugs Advisory Committee (GIDAC) meeting to discuss the use of Intercept’s obeticholic acid (OCA) for the treatment of pre-cirrhotic liver fibrosis due to NASH, and panelists voted overwhelmingly against (2-12) the OCA benefit/risk profile with two abstentions. The second voting question was consistent whereby the panel voted (15-1) to defer an approval decision until the full REGENERATE (view CT.gov record) data are available. For context, in January 2023, FDA accepted the NDA resubmission for OCA seeking accelerated approval as a Class 2 resubmission and assigned a PDUFA date of June 22, 2023 (previous FENIX insight). Of note, Intercept has halted stock trading today due to the adcom (view press release). Below, FENIX provides key commentary from the adcom panel as well as insight on the future of the asset.
Briefing documents have been posted (view here) for FDA’s Gastrointestinal Drugs Advisory Committee (GIDAC) meeting to discuss the use of Intercept’s obeticholic acid (OCA) for the treatment of pre-cirrhotic liver fibrosis due to NASH. For context, the OCA adcom is on Friday, May 19, 2023 (previous FENIX insight). Recall, in January 2023, FDA accepted the NDA for OCA seeking accelerated approval as a Class 2 resubmission and assigned a PDUFA date of June 22, 2023 (previous FENIX insight). Of note, Intercept’s stock price decreased as much as -22% in intraday trading following the release of the briefing documents. Below, FENIX provides insight into the potential outcome of the OCA FDA adcom.