Intra-Cellular Therapies(US:ITCI) GlobeNewswire News Roomยท2024-10-30 11:30Core Insights - CAPLYTA's net product sales for Q3 2024 reached $175.2 million, a 39% increase from $125.8 million in Q3 2023 [1][3] - Total revenues for Q3 2024 were $175.4 million, compared to $126.2 million in the same period last year [3] - The company raised its full-year 2024 net product sales guidance to a range of $665 to $685 million [1][5] - A supplemental NDA submission for lumateperone as an adjunctive treatment for major depressive disorder is expected in Q4 2024 [1][5] Financial Performance - Net loss for Q3 2024 was $26.3 million, compared to a net loss of $24.3 million in Q3 2023 [3] - Selling, general and administrative (SG&A) expenses increased to $132.1 million in Q3 2024 from $105.2 million in Q3 2023 [3] - Research and development (R&D) expenses rose to $66.8 million in Q3 2024, up from $41.6 million in the same period last year [3] - Cash, cash equivalents, and investment securities totaled $1.0 billion as of September 30, 2024 [3] Commercial Developments - CAPLYTA total prescriptions increased by 38% in Q3 2024 compared to Q3 2023 [4] - The company expanded its sales force by approximately 150 representatives to enhance outreach to primary care physicians [4] - A second expansion of the primary care sales force is planned for 2025 in anticipation of potential approval for the adjunctive treatment of major depressive disorder [4] Clinical Pipeline - Patient enrollment is ongoing in Phase 2 studies for ITI-1284 targeting generalized anxiety disorder and psychosis associated with Alzheimer's disease [1][7][8] - The lumateperone pediatric program is advancing, with ongoing studies for bipolar depression and irritability associated with autism spectrum disorder expected to start in Q4 2024 [7] - The company is also conducting a Phase 2 trial for lenrispodun in Parkinson's disease, with completion anticipated by the end of 2025 [9] Upcoming Events - Results from Phase 3 studies of lumateperone for major depressive disorder were presented at recent conferences, demonstrating significant efficacy [6] - The company plans to continue sharing results from its clinical studies at various medical conferences throughout 2024 and 2025 [6]