ITCI - Intra-Cellular Therapies: Buoyant Caplyta Sales And Upcoming MDD Data Support Short-Term 'Buy'

2024-02-10 22:51:46 ET

Summary

• Intra-Cellular's share price has increased by 450% over a five-year period and over 50% in the past year.
• The company's success is attributed to its approved drug, Caplyta, which has driven significant revenue growth.
• Intra-Cellular is running Phase 3 studies to expand Caplyta's label into major depressive disorder, presenting a potential future growth opportunity.
• Data from 3 MDD studies is due this quarter and next, presenting an intriguing opportunity to hold for the short term and benefit if the data are positive.
• Caplyta has generally performed well in clinical studies, and it seems likely the upcoming data readouts will trigger some share price upside. The long-term outlook is slightly less promising, given patent expirations and the uncertainty of the pipeline.

Investment Overview

The share price of Intra-Cellular Therapies ( ITCI ) - the New York based central nervous system focused biotech - is up by 450% across a five-year period, and >50% over a 12-month period.

The company completed its initial public offering ("IPO") back in 2014, raising ~$100m via the issuance of ~$6.15m shares priced at $17.5 per share. In short, Intra-Cellular has rewarded its shareholders handsomely since becoming a public company....

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