Robust Uptake Of Antipsychotic Drug Boosts Intra-Cellular's Q1 Earnings

Intra-Cellular Therapies Inc's ITCI Q1 revenues reached $35.0 million, compared to $15.9 million a year ago, beating the consensus of $33.65 million.
Net product revenues of Caplyta were $34.8 million, compared to $15.6 million in Q1 FY21.
The company reported an EPS loss of $(0.78), beating the consensus of $(0.92) and higher than the loss of $(0.65) a year ago.
Cash, cash equivalents, restricted cash, and investment securities reached $773.2 million.
The company reported a wider operating loss of $(72.67) million than $(53.22) million a year ago.
Caplyta was launched for bipolar depression immediately following its FDA approval in late December 2021.
The significant inflection in both new and total prescriptions reflects robust growth following approval in bipolar depression.
Q1 CAPLYTA new and total prescriptions increased by 154% and 134%, respectively, versus Q1 of 2021.
Price Action: ITCI shares are up 16.6% at $50.14 during the market session on the last check Tuesday.