Intra-Cellular Therapies ( (ITCI) ) has released its Q4 earnings. Here is a breakdown of the information Intra-Cellular Therapies presented to its investors.
Intra-Cellular Therapies, Inc. is a biopharmaceutical company specializing in the development and commercialization of treatments for central nervous system disorders, leveraging Nobel prize-winning research to innovate in the field of psychiatric and neurological diseases.
Intra-Cellular Therapies reported a strong financial performance for the fourth quarter and full year of 2024, with significant growth in net product sales driven by their flagship product, CAPLYTA. The company also announced the FDA’s acceptance of their supplemental New Drug Application for lumateperone as an adjunctive treatment for major depressive disorder.
The company’s financial highlights include a 47% year-over-year increase in full-year CAPLYTA net product sales, reaching $680.5 million, and a 51% increase in fourth-quarter sales compared to the previous year. Despite a net loss of $74.7 million for the year, the company saw substantial increases in both selling, general, and administrative expenses and research and development costs, reflecting their ongoing investment in commercialization and clinical trials.
Intra-Cellular Therapies is actively advancing its pipeline with the initiation of multiple late-stage clinical trials, including studies for lumateperone in various psychiatric conditions and the ITI-1284 program for anxiety and Alzheimer’s disease-related psychosis. The company is also expanding its sales force in anticipation of potential new approvals.
Looking ahead, Intra-Cellular Therapies remains focused on expanding the clinical applications of CAPLYTA and advancing its pipeline of innovative treatments. The management is optimistic about the potential approval of new indications and the continued growth of their product portfolio, which could further enhance their market presence and financial performance.