Welcome to our dedicated page for Intra-Cellular Therapies news (Ticker: ITCI), a resource for investors and traders seeking the latest updates and insights on Intra-Cellular Therapies stock.
Intra-Cellular Therapies, Inc. (NASDAQ: ITCI) is a biopharmaceutical company focused on the development and commercialization of therapeutics for central nervous system (CNS) disorders. Company communications emphasize that it is founded on Nobel Prize-winning research into intracellular mechanisms and that this science underpins its work on complex psychiatric and neurologic diseases. News about ITCI often centers on its approved product CAPLYTA (lumateperone) and its expanding clinical pipeline.
Investors and observers following ITCI news will see updates on CAPLYTA, an oral, once-daily atypical antipsychotic approved in adults for the treatment of schizophrenia and for depressive episodes associated with bipolar I or II disorder (bipolar depression) as monotherapy and as adjunctive therapy with lithium or valproate. Recent company announcements have highlighted financial results driven by CAPLYTA net product sales, as well as clinical and regulatory milestones such as a supplemental New Drug Application (sNDA) submitted to the U.S. Food and Drug Administration for adjunctive treatment of major depressive disorder (MDD).
ITCI news flow also includes detailed clinical trial readouts and conference presentations. The company has reported positive Phase 3 data from Studies 501 and 502 evaluating lumateperone as adjunctive therapy in MDD, Phase 3 results in the prevention of relapse in schizophrenia, and multiple late-stage trials in bipolar disorder, pediatric populations, and other CNS indications. Additional updates cover progress in the ITI-1284-ODT-SL program in generalized anxiety disorder and Alzheimer’s disease-related psychosis and agitation, the PDE1 inhibitor program with lenrispodun (ITI-214) in Parkinson’s disease and ITI-1020 in oncology, and the ITI-1500 non-hallucinogenic neuroplastogen program.
Another important category of ITCI news involves corporate and strategic developments. Intra-Cellular Therapies and Johnson & Johnson have announced a definitive agreement under which Johnson & Johnson will acquire all outstanding shares of Intra-Cellular Therapies, with the transaction subject to regulatory and stockholder approvals. Legal and intellectual property news, including a settlement of CAPLYTA patent litigation with Sandoz, also features in company disclosures. For investors tracking ITCI, this news page aggregates earnings announcements, clinical data, regulatory submissions, patent settlements, and acquisition-related updates in one place.
Intra-Cellular Therapies (ITCI) announced a public offering of 11,666,667 shares of common stock at $30.00 per share, expecting gross proceeds of $350 million before expenses. The offering will close on September 15, 2020, contingent upon customary closing conditions. The underwriters have a 30-day option to purchase an additional 1,750,000 shares. The offering is made under a previously filed shelf registration statement with the SEC.
Intra-Cellular Therapies has initiated an underwritten public offering of $350 million in common stock. The offering includes an option for underwriters to purchase an additional 15% of shares. It is led by J.P. Morgan, Goldman Sachs, SVB Leerink, and Evercore as joint book-running managers. The offering is subject to market conditions and will follow a Form S-3 shelf registration. Investors are encouraged to review the preliminary prospectus supplement for details. The press release includes forward-looking statements and cautions against undue reliance on them.
Intra-Cellular Therapies, a biopharmaceutical company focused on CNS disorders, announced that CEO Sharon Mates will present at the 2020 RBC Capital Markets Global Healthcare Conference. The presentation is on May 19, 2020, at 9:10 AM ET, and will be accessible via a live and archived webcast on the company's website. Founded on Nobel prize-winning research, Intra-Cellular Therapies develops innovative treatments for complex psychiatric and neurologic diseases.
Intra-Cellular Therapies (Nasdaq: ITCI) will hold its 2020 Annual Meeting of Stockholders virtually on May 27, 2020, at 10:00 a.m. Eastern Time, due to COVID-19. Stockholders of record as of April 6, 2020, can vote and ask questions online. To participate, stockholders must access the meeting at www.meetingcenter.io/238568156 using a 15-digit control number and the password ITCI2020. Beneficial owners need to register in advance with Computershare. Technical support will be available during the meeting.
Intra-Cellular Therapies (ITCI) reported first-quarter 2020 financial results, highlighting net product sales of CAPLYTA at approximately $882,500, a significant increase from $0 in Q1 2019. The company faced a net loss of $47.4 million, or $0.73 per share, compared to a loss of $34.8 million in the prior year. R&D expenses decreased to $16.0 million from $25.0 million. SG&A expenses rose sharply to $34.1 million due to increased commercialization efforts. The company also completed a $295 million public offering, boosting cash reserves to $450.4 million.