Tag: ITCI Stock Price

Shares of Intra-Cellular Therapies, Inc. (NASDAQ: ITCI) are rising on the US stock charts today in response to the takeover move. As of the latest pre-market check, ITCI stock was trading up 34.45% to $127.55.

Expansion of Neuroscience Strategically

Intra-Cellular Therapies (ITCI) and Johnson & Johnson (JNJ) announced their purchase deal. Under the terms of the agreement, JNJ will be able to purchase all of the remaining ITCI shares for $132.00 each in cash, making the deal worth about $14.6 billion. The purchase aligns with Johnson & Johnson’s almost 70-year history of innovation in neuroscience.

JNJ hopes to transform the treatment of neuropsychiatric and neurodegenerative disorders by incorporating intracellular therapies into its Innovative Medicine business. JNJ’s portfolio will be strengthened by ITCI’s primary medication, CAPLYTA (lumateperone), which has been authorized to treat bipolar disorder and schizophrenia.

Promising Future for CAPLYTA

CAPLYTA, characterized by its unique receptor profile, has demonstrated robust efficacy, favorable safety, and tolerability across approved indications. Recent Phase 3 studies revealed its potential as an adjunctive therapy for major depressive disorder (MDD), marking it as a potential first in over 15 years to address both MDD and bipolar-related depressive symptoms. With ongoing trials targeting additional indications, CAPLYTA could redefine treatment standards for mental health disorders.

Transaction Details and Timeline

According to the agreement, JNJ would prioritize research investments and shareholder returns, have a healthy balance sheet, and finance the purchase with a combination of debt and cash reserves. The transaction is anticipated to finalize later this year, subject to regulatory and shareholder clearances.

Because its stock will no longer be listed on the Nasdaq, Intra-Cellular Therapies (ITCI) will become even more integrated into JNJ’s business activities after the acquisition closes. Johnson & Johnson’s dedication to neuroscience innovation is demonstrated by this purchase, which promises improved patient care and long-term benefit for all parties involved.

Shares of Intra-Cellular Therapies, Inc. (NASDAQ: ITCI) are presently undergoing a discernible ascent, marking a notable increase of 20.27% at the latest observation, reaching a value of $77.89. This significant surge in the pre-market valuation of ITCI shares seems to find its support in the recent disclosure of clinical development data.

Intra-Cellular (ITCI) has unveiled today affirmative top-line outcomes from Study 501, which assesses lumateperone 42 mg as a supplementary regimen to antidepressants for addressing major depressive disorder (MDD).

The top-line findings from its subsequent Phase 3 endeavor, Study 502, are anticipated to surface in the latter part of the second quarter of the current calendar. These favorable Phase 3 results concerning MDD mark a considerable advancement towards ITCI’s objective of firmly establishing CAPLYTA as a preferred therapeutic option spanning mood disorders.

Intra-Cellular contends that these robust efficacy findings, coupled with its favorable safety and tolerability profile, alongside convenient dosing, position CAPLYTA as a compelling adjunctive therapy for MDD, pending regulatory approval. ITCI is dedicated to enhancing treatment options for patients grappling with major neuropsychiatric disorders, evident in its endeavors to broaden CAPLYTA’s indication range and progress its pipeline.

Furthermore, lumateperone 42 mg has met the pivotal secondary endpoint in the investigation, manifesting a statistically notable and clinically substantial reduction in the CGI-S score relative to the placebo at Week 6. Significant effectiveness was noted for both the major and important secondary outcomes from the first assessed time point (Week 1) and was continuously maintained throughout the investigation.

This Phase 3 investigation highlights lumateperone’s strong adjunctive effect in light of the high prevalence of MDD and the critical need for effective treatments with favorable safety and tolerability profiles, particularly in light of the fact that the majority of patients either do not benefit from initial therapy or experience negative side effects from existing treatments.

Consequently, this study contributes to the burgeoning corpus of evidence delineating lumateperone’s efficacy and safety profile across a spectrum of mood disorders.