Stock Alert: Intra-Cellular Jumps 60% As Bipolar Therapy Shows Positive Results In Late-Stage Trial

(RTTNews) - Shares of Intra-Cellular Therapies, Inc. (ITCI) are currently surging over 60% on Wednesday morning after the biopharmaceutical company announced positive results from a late-stage study evaluating a therapy for bipolar depression.

ITCI is currently trading at $29.62, up $11.19 or 60.73%, on the Nasdaq.

Intra-Cellular announced positive topline results from its Phase 3 clinical trial evaluating lumateperone as adjunctive therapy to lithium or valproate in the treatment of major depressive episodes associated with Bipolar I or Bipolar II disorder.

The study found that once daily lumateperone 42 mg met the primary endpoint for improvement in depression as measured by change from baseline versus placebo. Lumateperone 42 mg also met the key secondary endpoint.

The company expects to submit a sNDA to the FDA in late 2020 or early 2021.