Intra-Cellular Stock Rallies On Successful Late-Stage Depression Treatment Study
Portfolio Pulse from Vandana Singh
Intra-Cellular Therapies Inc (NASDAQ:ITCI) announced positive topline results from Study 501 for lumateperone 42 mg as an adjunctive therapy for major depressive disorder (MDD), showing significant symptom relief. The results demonstrated a statistically significant reduction in the MADRS total score compared to placebo at Week 6. The company's shares surged 27.60% to $82.64 following the announcement. Further results from Study 502 are expected in the second quarter.
April 16, 2024 | 4:13 pm
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Intra-Cellular Therapies Inc's stock surged 27.60% after announcing positive results from a study on lumateperone for treating major depressive disorder.
The positive outcome from the lumateperone study directly impacts Intra-Cellular Therapies Inc's market perception, potentially increasing investor confidence and demand for ITCI shares. The significant stock price increase reflects the market's optimistic view on the drug's commercial potential and its future revenue implications for the company.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100