BUZZ-Intra-Cellular Therapies slips on $500 mln stock offering

Reuters04-18

** Intra-Cellular Therapies' shares down 3.6% at $73.90 premarket after follow-on offering priced

** Biopharma co late Weds announced ~6.8 mln shares at $73 for $500 mln gross proceeds

** Offering price represents 4.8% discount to stock's last sale

** ITCI's shares on Tues closed up 23% at $79.84 after co's depression drug met main goal in late-stage study

** ITCI intends to use net offering proceeds to fund commercialization activities of the drug (brand name Caplyta)

** Co has ~96.8 mln shares outstanding for ~$7.5 bln market cap, per LSEG data

** JP Morgan, Leerink, BofA, Morgan Stanley and RBC are jt bookrunners for stock offering

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))

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