Intercept Appoints Andrew Saik As Chief Financial Officer

The following excerpt is from the company's SEC filing.
NEW YORK, June 7, 2021
– Intercept Pharmaceuticals, Inc.
(Nasdaq:ICPT), a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat progressive
non-viral liver diseases, today announced the appointment of Andrew Saik as Chief Financial Officer.
Mr. Saik brings more than 20 years of biopharma finance experience
to his new role at Intercept. He was previously Chief Financial Officer of Vyne Therapeutics, where he led a buildout of the company’s
finance department in the U.S., renegotiated debt obligations to provide the company with enhanced financial fl exibility, and helped raise
over $135M to fund operations. Prior to joining Vyne, Mr. Saik held CFO positions at PDS Biotechnology, Inc. (formerly Edge Therapeutics),
Vertice Pharma, LLC, and Auxilium Pharmaceuticals, Inc. Prior to Auxilium, he was Senior Vice President, Finance and Treasurer at Endo
Health Solutions, Inc., where he helped complete the acquisition of Paladin Labs and restructured $3B of debt into a new corporate structure.
Mr. Saik holds a Master of Business Administration from the University of Southern California and a Bachelor of Arts from the University
of California, Los Angeles.
“We are pleased to have Andrew joining our leadership team as
CFO at such a pivotal time for the company,” said Jerry Durso, President and Chief Executive Officer of Intercept. “With over
20 years of biopharma finance experience including several recent roles as a public company CFO, he is an ideal leader to help Intercept
build on its strong foundation and navigate the next phase of the company’s growth and development. I would also like to take this
opportunity to thank Rocco Venezia, our Chief Accounting Officer, for his leadership as Acting CFO.”
“I’m thrilled to be joining Intercept and look forward
to working with this team to help write the next chapter of the company’s history,” said Mr. Saik. “Intercept’s
scientific and commercial capabilities give us a tremendous opportunity to continue building value for all of our key stakeholders in
2021 and beyond.”
About Intercept
Intercept is a biopharmaceutical company focused on the development
and commercialization of novel therapeutics to treat progressive non-viral liver diseases, including primary biliary cholangitis (PBC)
and nonalcoholic steatohepatitis (NASH). Founded in 2002 in New York, Intercept has operations in the United States, Europe and Canada.
For more information, please visit
or connect with the company on
Cautionary Note Regarding Forward-Looking
This press release contains forward-looking
statements, including, but not limited to, statements regarding the progress, timing and results of our clinical trials, including our
clinical trials for the treatment of nonalcoholic steatohepatitis (“NASH”), the safety and efficacy of our approved product,
Ocaliva (obeticholic acid or “OCA”) for primary biliary cholangitis (“PBC”), and our product candidates, including
OCA for liver fibrosis due to NASH, the timing and acceptance of our regulatory filings and the potential approval of OCA for liver fibrosis
due to NASH, the review of our New Drug Application for OCA for the treatment of liver fibrosis due to NASH by the U.S. Food and
Drug Administration (“FDA”), our intent to work with the FDA to address the issues raised in a complete response letter
(“CRL”), the potential commercial success of OCA, as well as our strategy, future operations, future financial position,
future revenue, projected costs, financial guidance, prospects, plans and objectives.
These statements constitute
forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The words “anticipate,” “believe,” “estimate,”
“expect,” “intend,” “may,” “plan,” “predict,” “project,”
“target,” “potential,” “will,” “would,” “could,” “should,”
“possible,” “continue” and similar expressions are intended to identify forward-looking statements, although
not all forward-looking statements contain these identifying words. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update any
forward-looking statement except as required by law. These forward-looking statements are based on estimates and assumptions by our
management that, although believed to be reasonable, are inherently uncertain and subject to a number of risks.
The following represent some, but not
necessarily all, of the factors that could cause actual results to differ materially from historical results or those anticipated or
predicted by our forward-looking statements: our ability to successfully commercialize Ocaliva for PBC; our ability to maintain our
regulatory approval of Ocaliva for PBC in the United States, Europe, Canada, Israel, Australia and
other jurisdictions in which we have or may receive marketing authorization; our ability to timely and cost-effectively file for and
obtain regulatory approval of our product candidates on an accelerated basis or at all, including OCA for liver fibrosis due to NASH
following the issuance of the CRL by the FDA; any advisory committee recommendation or dispute resolution determination that
our product candidates, including OCA for liver fibrosis due to NASH, should not be approved or approved only under certain
conditions; any future determination that the regulatory applications and subsequent information we submit for our product
candidates, including OCA for liver fibrosis due to NASH, do not contain adequate clinical or other data or meet applicable
regulatory requirements for approval; conditions that may be imposed by regulatory authorities on our marketing approvals for our
products and product candidates, including OCA for liver fibrosis due to NASH, such as the need for clinical outcomes data (and not
just results based on achievement of a surrogate endpoint), any risk mitigation programs such as a REMS, and any related
restrictions, limitations and/or warnings contained in the label of any of our products or product candidates; any potential side
effects associated with Ocaliva for PBC, OCA for liver fibrosis due to NASH or our other product candidates that could delay or
prevent approval, require that an approved product be taken off the market, require the inclusion of safety warnings or precautions,
or otherwise limit the sale of such product or product candidate, including in connection with the newly identified safety signal
relating to Ocaliva identified by the FDA in May 2020 and with respect to patients with PBC with decompensated cirrhosis, a
prior decompensation event or with compensated cirrhosis who have evidence of portal hypertension; the initiation, timing, cost,
conduct, progress and results of our research and development activities, preclinical studies and clinical trials, including any
issues, delays or failures in identifying patients, enrolling patients, treating patients, retaining patients, meeting specific
endpoints in the jurisdictions in which we intend to seek approval or completing and timely reporting the results of our NASH or PBC
clinical trials; the outcomes of ongoing discussions with the FDA and European Medicines Agency regarding the feasibility
of the COBALT and 401 trials; our ability to establish and maintain relationships with, and the performance of, third-party
manufacturers, contract research organizations and other vendors upon whom we are substantially dependent for, among other things,
the manufacture and supply of our products, including Ocaliva for PBC and, if approved, OCA for liver fibrosis due to NASH, and our
clinical trial activities; our ability to identify, develop and successfully commercialize our products and product candidates,
including our ability to successfully launch OCA for liver fibrosis due to NASH, if approved; our ability to obtain and maintain
intellectual property protection for our products and product candidates, including our ability to cost-effectively file, prosecute,
defend and enforce any patent claims or other intellectual property rights; the size and growth of the markets for our products and
product candidates and our ability to serve those markets; the degree of market acceptance of Ocaliva for PBC and, if approved, OCA
for liver fibrosis due to NASH or our other product candidates among physicians, patients and healthcare payors; the availability of
adequate coverage and reimbursement from governmental and private healthcare payors for our products, including Ocaliva for PBC and,
if approved, OCA for liver fibrosis due to NASH, and our ability to obtain adequate pricing for such products; our ability to
establish and maintain effective sales, marketing and distribution capabilities, either directly or through collaborations with
third parties; competition from existing drugs or new drugs that become available; our ability to attract and retain key personnel
to manage our business effectively; our ability to prevent system failures, data breaches or violations of data protection laws;
costs and outcomes relating to any disputes, governmental inquiries or investigations, regulatory proceedings, legal proceedings or
litigation, including any securities, intellectual property, employment, product liability or other litigation; our
collaborators’ election to pursue research, development and commercialization activities; our ability to establish and
maintain relationships with collaborators with development, regulatory and commercialization expertise; our need for and ability to
generate or obtain additional financing; our estimates regarding future expenses, revenues and capital requirements and the accuracy
thereof; our use of cash, cash equivalents and short-term investments; our ability to acquire, license and invest in businesses,
technologies, product candidates and products; our ability to manage the growth of our operations, infrastructure, personnel,
systems and controls; our ability to obtain and maintain adequate insurance coverage; continuing threats from COVID-19, including
additional waves of infections, and their impacts including quarantines and other government actions, delays relating to our
regulatory applications, disruptions relating to our ongoing clinical trials or involving our contract research organizations, study
sites or other clinical partners, disruptions relating to our supply chain or involving our third-party manufacturers, distributors
or other distribution partners and facility closures or other restrictions, and the impact of the foregoing on our results of
operations and financial position; the impact of general U.S. and foreign economic, industry, market, regulatory or
political conditions, including the impact of Brexit; and the other risks and uncertainties identified in our periodic filings filed
with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31,
For more information about Intercept, please contact: 
Lisa DeFrancesco 
Christopher Frates 
Source: Intercept Pharmaceuticals, Inc.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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