Phase III schizophrenia data lift Intra-Cellular to record high

Intra-Cellular Therapies Inc. (NASDAQ:ITCI) climbed $22.68 (87%) to an all-time high close of $48.79 on Wednesday after the 60 mg dose of ITI-007 met the primary endpoint in a Phase III trial to treat schizophrenia.

Patients who received 60 mg once daily of ITI-007 for four weeks demonstrated superiority over placebo in change from baseline on the Positive and Negative Syndrome Scale (PANSS) total score (p=0.022). The 60 mg dose also demonstrated significant improvement vs. placebo on the Clinical Global Impression Scale for Severity of Illness (CGI-S) (p=0.003), the PANSS positive symptom subscale and the Personal and Social Performance scale (PSP), but did not demonstrate statistical significance on the PANSS negative symptom subscale. ...