Intra-Cellular Therapies ( (ITCI) ) has realeased its Q3 earnings. Here is a breakdown of the information Intra-Cellular Therapies presented to its investors.
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Intra-Cellular Therapies, Inc. is a biopharmaceutical company dedicated to developing and commercializing treatments for central nervous system disorders, with a focus on leveraging intracellular processes to address complex psychiatric and neurologic diseases.
Intra-Cellular Therapies has reported a strong performance in the third quarter of 2024, highlighted by significant growth in the sales of its principal product, CAPLYTA. The company also provided updates on its ongoing corporate and clinical developments.
The company achieved net product sales of $175.2 million for CAPLYTA in the third quarter, marking a 39% increase from the previous year. Total revenues rose to $175.4 million, and total prescriptions for CAPLYTA increased by 38%. The company has raised its full-year sales guidance for CAPLYTA to a range of $665 to $685 million. On the operational front, the company expanded its sales force and is planning further expansion in 2025 with the potential approval of CAPLYTA for adjunctive treatment of major depressive disorder (MDD).
Intra-Cellular Therapies continues to advance its pipeline, with notable progress in clinical trials for lumateperone in various neuropsychiatric disorders. The company is preparing for a supplemental NDA submission for lumateperone’s use in MDD and conducting various phase studies for other conditions, including generalized anxiety disorder and Alzheimer’s-related ailments.
Looking ahead, Intra-Cellular Therapies remains optimistic about its growth trajectory and strategic initiatives. The company is poised to expand its market presence with new indications for CAPLYTA, while continuing to invest in research and development to broaden its therapeutic offerings for CNS disorders.
