Intra-Cellular Therapies Stock Is Surging Monday: What's Going On?

Shares of Intra-Cellular Therapies Inc. ITCI are trading higher Monday after Johnson & Johnson agreed to acquire the company.

What To Know: Johnson & Johnson on Monday entered into a definitive agreement to acquire all outstanding shares of Intra-Cellular Therapies for $132 per share in cash in a deal that values the company at approximately $14.6 billion.

The acquisition is expected to strengthen Johnson & Johnson’s presence in neuroscience, and includes Intra-Cellular Therapies’ CAPLYTA (lumateperone), a once-daily oral treatment approved by the FDA for schizophrenia and depressive episodes linked to bipolar I and II disorder.

Johnson & Johnson also gains a pipeline, including ITI-1284, which is being tested for generalized anxiety disorder and Alzheimer's-related psychosis and agitation.

In December 2024, Intra-Cellular Therapies submitted a supplemental new drug application for CAPLYTA as an adjunctive treatment for major depressive disorder. If approved, the drug could become a key player in treating common depressive disorders, potentially generating over $5 billion in annual sales.

The transaction is expected to close later this year, pending regulatory and shareholder approvals. Once completed, Intra-Cellular Therapies’ stock will be delisted from the Nasdaq. Johnson & Johnson plans to fund the acquisition with cash on hand and debt. Johnson & Johnson is also expected to provide commentary on any potential impact to adjusted earnings when it reports financial results on Jan. 22.

ITCI Price Action: Intro-Cellular shares were up 34.2% at $127.27 at the time of writing Monday, according to Benzinga Pro.

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