Stock Track | Intra-Cellular Therapies Soars 5% on Strong Q3 Results and Pipeline Progress

Stock Track10-30

Shares of Intra-Cellular Therapies (NASDAQ: ITCI) surged 5.12% on Monday, October 30th, following the company's impressive third quarter 2024 financial results and positive updates on its clinical pipeline.

The biopharmaceutical firm reported total revenue of $175.4 million for Q3 2024, beating analyst estimates of $172.4 million. The strong revenue was driven by net product sales of CAPLYTA, the company's flagship drug for schizophrenia and bipolar depression, which grew 39% year-over-year to $175.2 million.

Building on this momentum, Intra-Cellular Therapies raised its full-year 2024 net product sales guidance for CAPLYTA to a range of $665 million to $685 million, up from the previous estimate of $650 million to $680 million. The company also tightened its expense guidance ranges for selling, general & administrative (SG&A) and research & development (R&D) costs.

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