Intra-Cellular soars on mixed Phase III schizophrenia results

One dose of Intra-Cellular Therapies' ($ITCI) in-development schizophrenia drug met its main goals in a Phase III trial, sending the biotech's share price rocketing upward as it works through a second late-stage study. In a 450-patient trial, a 60 mg dose of Intra-Cellular's ITI-007 met its primary endpoint of significantly improving schizophrenia symptoms compared with placebo, but the 40 mg group failed to hit the same mark. Intra-Cellular is calling the study a net victory, reaffirming its optimism that ITI-007 will come through in a second, 580-patient Phase III trial now underway. The company's shares shot up more than 75% on the news. More

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