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By The Online Investor Staff, updated Tue., Apr. 23, 5:54 AM
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Secondary Stock Offerings| This Slide: #7 of 25 |
Slide #7. Intra-Cellular Therapies, Inc. — Secondary Offering
Company:
Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)
Date announced:
4/16/2024
Shares Offered:
6,849,316
Date of Pricing:
4/17/2024
Price Per Share:
$73.00
Secondary Offering Details:
Intra-Cellular Therapies, Inc. (Nasdaq: ITCI) ("Intra-Cellular Therapies"), a biopharmaceutical company focused on the development and commercialization of therapeutics for central nervous system (CNS) disorders, today announced that it has commenced an underwritten public offering of $500 million of shares of its common stock. In connection with the offering, Intra-Cellular Therapies intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. All of the shares in the offering will be sold by Intra-Cellular Therapies. -updated 4/17- Intra-Cellular Therapies, Inc. (Nasdaq: ITCI) ("Intra-Cellular Therapies"), a biopharmaceutical company focused on the development and commercialization of therapeutics for central nervous system (CNS) disorders, today announced the pricing of its previously announced underwritten public offering of 6,849,316 shares of its common stock at a public offering price of $73.00 per share. All of the shares in the offering will be sold by Intra-Cellular Therapies, with gross proceeds to Intra-Cellular Therapies expected to be $500.0 million before deducting underwriting discounts and commissions and offering expenses. Intra-Cellular Therapies has granted the underwriters a 30-day option to purchase up to an additional 1,027,397 shares on the same terms and conditions. The offering is expected to close on April 22, 2024, subject to the satisfaction of customary closing conditions.
Intra-Cellular Therapies is a biopharmaceutical company focused on the discovery, clinical development and commercialization of small molecule drugs that address medical needs mainly in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system. Co.'s product candidate, CAPLYTA™ (lumateperone) has been approved for the treatment of schizophrenia in adults. Co. is developing ITI-1284, an oral disintegrating tablet for sublingual administration for the treatment of behavioral disturbances in patients with dementia and dementia-related psychosis and for the treatment of certain depressive disorders in the elderly.
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Avg. Broker Rec.
 
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Strong Buy (3.60 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: ITCI Stock Forecast Based on Zacks ABR data; powered by Xignite |
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