Why Intra-Cellular Therapies Was Weak This Week
Psychiatric and neurologic drugs developer Intra-Cellular Therapies (NASDAQ: ITCI) was a cold stock this week. After reporting its second-quarter results on Monday, the company's shares sank and to date have not recovered; at Friday's close, they were down by over 13% over the five-day stretch.
For the quarter, the company booked $20 million in revenue, more than 10 times what it made in the same period of 2020. The company's sales are almost entirely dependent on its one commercialized product, schizophrenia drug Caplyta, which was approved at the end of 2019.
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Source Fool.com
