Another remarkable day for investors, at intercept pharmaceuticals. This stock nearly quadrupled yesterday, surging more than 200 points after positive trial results for its liver drug. Today, the stock added another 62 percent. That works out to $170 a share more closing at $445.83 a share.
Now, the drug maker`s market cap has risen from $1.5 billion to nearly $9 billion in just two days.
So what`s so hot about intercept? It has no products on the market. It doesn`t make money. It has just 45 employees.
With more about this phenom is Jonathan Eckard, a biotechnology analyst at Citi.