Intra-Cellular Therapies Announces Full Exercise of Underwriters’ Option to Purchase Additional Shares of Common Stock
October 05 2017 - 4:01PM
Intra-Cellular Therapies, Inc. (Nasdaq:ITCI), a
biopharmaceutical company, today announced that the underwriters of
its previously announced underwritten public offering of 9,677,419
shares of its common stock at a public offering price of $15.50 per
share have exercised in full their option to purchase an additional
1,451,613 shares. All of the shares in the offering were sold by
Intra-Cellular Therapies, with gross proceeds to Intra-Cellular of
approximately $172 million from the offering of an aggregate of
11,129,032 shares and net proceeds of approximately $162 million,
after deducting underwriting discounts and commissions and
estimated offering expenses. The closing of the sale of 9,677,419
shares was completed on October 2, 2017 and the closing of the sale
of 1,451,613 shares pursuant to the full exercise by the
underwriters of their option to purchase additional shares was
completed on October 5, 2017.
J.P. Morgan Securities LLC and Leerink Partners LLC acted as
joint book-running managers for the offering. Cantor
Fitzgerald & Co. acted as lead manager for the offering and
Canaccord Genuity Inc., BTIG, LLC and Ladenburg Thalmann & Co.
Inc. acted as co-managers for the offering.
The public offering was made pursuant to a shelf registration
statement on Form S-3 that was previously filed with and declared
effective by the Securities and Exchange Commission (“SEC”). A
final prospectus supplement and the accompanying prospectus
describing the terms of the offering has been filed with the SEC
and is available on the SEC’s website located
at http://www.sec.gov, and may be obtained from J.P. Morgan
Securities LLC, Attention: Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, telephone: 1-866-803-9204
or email: prospectus-eq_fi@jpmchase.com, or Leerink Partners LLC,
Attention: Syndicate Department, One Federal Street, 37th Floor,
Boston, MA, 02110, or by e-mail at Syndicate@Leerink.com, or by
phone at 800-808-7525, ext. 6132.
This press release shall not constitute an offer to sell, or a
solicitation of an offer to buy, nor will there be any sale of
these securities in any state or other jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
About Intra-Cellular Therapies
Intra-Cellular Therapies is developing novel drugs for the
treatment of neuropsychiatric and neurodegenerative diseases and
diseases of the elderly, including Parkinson’s and Alzheimer’s
disease. The Company is developing its lead drug candidate,
lumateperone (also known as ITI-007), for the treatment of
schizophrenia, bipolar disorder, behavioral disturbances in
patients with dementia, including Alzheimer’s disease, depression
and other neuropsychiatric and neurological disorders.
Lumateperone, a first-in-class molecule, is in Phase 3 clinical
development for the treatment of schizophrenia, bipolar depression
and agitation associated with dementia, including Alzheimer’s
disease. The Company is also utilizing its phosphodiesterase (PDE)
platform and other proprietary chemistry platforms to develop drugs
for the treatment of CNS and other disorders. The lead molecule in
the Company’s PDE1 portfolio, ITI-214, is in development for the
treatment of symptoms associated with Parkinson’s disease.
Contact
Intra-Cellular Therapies, Inc. Juan Sanchez, M.D. Vice
President, Corporate Communications and Investor Relations
646-440-9333
Burns McClellan, Inc. Lisa Burns Justin Jackson (Media)
jjackson@burnsmc.com 212-213-0006
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