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Shares of Intra-Cellular Therapies (ITCI) fell sharply Tuesday afternoon after the Food and Drug Administration canceled an advisory committee meeting scheduled for next week to review the company’s lead drug, seeking approval as a new schizophrenia treatment.

The meeting of outside experts was set to review the Intra-Cellular drug lumateperone on July 31. FDA canceled the meeting, however, citing “new information regarding the application,” according to an agency statement. 

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