ITCI - Intra-Cellular stock surges 11% as bipolar depression drug sales skyrockets in Q3

• Intra-Cellular Therapies ( NASDAQ: ITCI ) stock rose ~11% on Thursday after the company's Q3 results beat estimates.
• Net loss narrowed to -$53.51, compared to -$76.91M in Q3 2021.
• Net product sales of bipolar depression therapy Caplyta increased +232.6% Y/Y to $71.87M. This was also the total revenue as there was no Grant revenue in this quarter.
• "The successful launch of CAPLYTA continues with another quarter of strong revenue growth. In addition to our efforts to fuel continued commercial success, we are making investments to broaden CAPLYTA’s indications and advance our pipeline," said Intra-Cellular Chairman and CEO Sharon Mates.
• Research and development (R&D) expenses were $33.27M, compared to $27.03M in Q3 2021.
• Cash, cash equivalents, restricted cash and investment securities were $630.5M at Sept. 30, compared to $413.7M at Dec. 31, 2021.

For further details see: