Intra-Cellular Therapies Shares Plunge After Disappointing Drug Trial Results
29 September 2016 - 7:40AM
Dow Jones News
Intra-Cellular Therapies Inc. said its lead drug candidate had a
similar rate of effectiveness to placebo in a Phase 3 schizophrenia
trial.
The company's shares fell 65% in after-hours trading to
$42.35.
The study of the biopharmaceutical company's ITI-007 treatment,
which used risperidone as an active control, had a primary endpoint
of change from baseline on the Positive and Negative Syndrome Scale
score.
The two ITI-007 doses in the study demonstrated a change from
baseline of minus 14.6 points and minus 15 points, compared with
minus 15.1 points in placebo and 20.5 in risperidone.
Intra-Cellular said there was "an unusually high placebo
response at certain sites which disproportionately affected the
trial results."
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
September 28, 2016 17:25 ET (21:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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