Intra-Cellular reports mixed fourth-quarter 2024 results, wherein earnings miss estimates but revenues beat the same driven by strong Caplyta sales.
Intra-Cellular Therapies (ITCI) came out with a quarterly loss of $0.16 per share versus the Zacks Consensus Estimate of a loss of $0.05. This compares to loss of $0.30 per share a year ago.
JNJ is set to acquire ITCI for $132 per share in cash. The transaction is likely to close before this year's end.
Intra-Cellular (ITCI) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Intra-Cellular +32.49 (+34.25%) Johnson & Johnson +2.22 (+1.56%)
Intra-Cellular stock gains 15% as it settles Caplyta patent litigation with Sandoz protecting the drug's exclusivity in the United States till July 1, 2040.
Intra-Cellular +32.2 (+33.94%) Johnson & Johnson +1.38 (+0.97%)
Shares of Intra-Cellular Therapies (ITCI) are surging 35% in premarket trading Monday after Johnson & Johnson (JNJ) said it will acquire the biopharmaceutical company for roughly $14.6 billion.
Intra-Cellular (ITCI) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
Johnson & Johnson said on Monday it would buy drugmaker Intra-Cellular Therapies for about $14.6 billion, boosting its presence in the market for neurological disorder treatments.
Johnson & Johnson is exploring a bid to acquire Intra-Cellular Therapies Inc , a biopharmaceutical company, Bloomberg News reported on Sunday citing people familiar with the matter.
CAPLYTA showed strong revenue growth, with Q3 2024 net product revenues of $125.8 million, which was a 39% year-over-year increase. Potential revenue boost if CAPLYTA's label is expanded to include it as an adjunctive therapy for major depressive disorder, addressing a significant unmet need. Lenrispodun, a PDE inhibitor, is in a phase 2 study for Parkinson's Disease, with potential data release by late 2025/early 2026, offering another blockbuster opportunity.