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Stock impact report

Turns Out, It Wasn't Bad News for Intra-Cellular Therapies [The Motley Fool]

Intra-Cellular Therapies Inc. (ITCI) 
Last intra-cellular therapies inc. earnings: 3/2 07:30 am Check Earnings Report
Company Research Source: The Motley Fool
Turns Out, It Wasn't Bad News for Intra-Cellular Therapies Down over 18%, the biotech bounces back. The Food and Drug Administration told Intra-Cellular Therapies ( NASDAQ:ITCI ) that it doesn't plan to hold an advisory committee meeting to review Intra-Cellular's marketing application for lumateperone as a treatment of schizophrenia. There's two ways to interpret that: Investors seem to have had both opinions today, having sent shares down over 18%, only to bid them back up into the black. The FDA had previously scheduled an advisory committee meeting for the end of July, but the agency canceled it after Intra-Cellular submitted additional nonclinical information. At the time, Intra-Cellular said the FDA canceled that meeting "to allow sufficient time to review this new and any forthcoming information." Intra-Cellular submitted even more nonclinical results that the FDA asked for. The company thinks the data support the idea that animals and humans metabolize the drug differently, s Show less Read more
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