{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-073996","form_type":"8-K","ticker":null,"cik":"0001270073","company_name":"INTERCEPT PHARMACEUTICALS, INC.","filed_at":"2023-06-23T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.228211+00:00","generated_at":"2026-06-13T17:40:09.121405+00:00","sec_items":["2.05","7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Intercept cuts ~1/3 workforce, ends NASH investment, targets 2024 profitability","bullets":["Workforce reduction of approximately one third; restructuring costs of ~$16M (mostly cash severance).","Discontinues all NASH-related investment; closes REGENERATE study by end of 2023.","Lowers 2023 non-GAAP adjusted opex guidance to $350-370M; targets ~$140M annual opex savings.","Reiterates 2023 Ocaliva net sales guidance of $310-340M; aims for profitability in 2024.","Prioritizes R&D on fixed-dose OCA-bezafibrate combination for PBC; Phase 2 interim analyses expected in 2023."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-073996","json":"https://secwatch.observer/filing/0001104659-23-073996.json","markdown":"https://secwatch.observer/filing/0001104659-23-073996.md","text":"https://secwatch.observer/filing/0001104659-23-073996.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1270073/000110465923073996/0001104659-23-073996-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1270073/000110465923073996/tm2319519d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T17:40:09.121405+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"601c0035a2a23746004f5bbd74e1f9d3286ad169","claim":"INTERCEPT PHARMACEUTICALS, INC. announced a restructuring with charges of approximately $16 million in restructuring costs, including approximately $15 million in cash severance pay and related personnel termination costs and less tha affecting the Company (workforce reduction of approximately one third).","evidence_excerpt":"continue to develop innovative new medicines. The Restructuring Plan will result in a workforce reduction of approximately one third. The Company expects to incur approximately $16 million in restructuring costs, including approximately $15 million in cash severance pay and related personnel termination costs and less than $1 million in non-cash stock-based","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1270073/000110465923073996/0001104659-23-073996-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $16 million in restructuring costs, including approximately $15 million in cash severance pay and related personnel termination costs and less tha"},{"label":"Affected area","value":"the Company"},{"label":"Headcount","value":"workforce reduction of approximately one third"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}