Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Q4 2022 Earnings Conference Call March 1, 2023 8:30 AM ET

Company Participants

Juan Sanchez - VP, Corporate Communications & IR

Sharon Mates - Founder, Chairman, and CEO

Mark Neumann - EVP & Chief Commercial Officer

Lawrence J. Hineline - SVP, Finance and CFO

Suresh Durgam - EVP & CMO

Conference Call Participants

Andrew Tsai - Jefferies

Brian Abrahams - RBC Capital Markets

Unidentified Analyst - J.P. Morgan Chase

Michael DiFiore - Evercore ISI

Marc Goodman - SVB Securities

Ami Fadia - Needham & Company

Charles Duncan - Cantor Fitzgerald

Jason Gerberry - Bank of America

David Amsellem - Piper Sandler & Co.

Graig Suvannavejh - Mizuho Securities

Ash Verma - UBS

Unidentified Analyst - Goldman Sachs

Operator

Thank you for standing by and welcome to the Intra-Cellular Therapies Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker’s presentation, there will be a question-and-answer session. [Operator Instructions]. As a reminder, today's program is being recorded. And now I would like to introduce your host for today’s program, Dr. Juan Sanchez, Vice President, Corporate Communications and Investor Relations. Please go ahead.

Juan Sanchez

Good morning and thank you all for joining us on our fourth quarter and full year 2022 earnings call. Joining me on the call today are Dr. Sharon Mates, Chairman and Chief Executive Officer; Mark Neumann, Chief Commercial Officer; Dr. Suresh Durgam, Chief Medical Officer; and Larry Hineline, Chief Financial Officer. As a reminder, during today's call, we will be making certain forward-looking statements.

These forward-looking statements are based on current information, assumptions, and expectations that are subject to change and impose a number of risks and uncertainties that might cause actual results to differ materially from those contained in the forward-looking statements. These and other risks are described in our periodic filings made with the Securities and Exchange Commission, including our quarterly and annual reports. You're cautioned not to place undue reliance on these forward-looking statements, and the company disclaims any obligations to update such statements. Sharon.

Sharon Mates

Thanks Juan. Good morning everyone and welcome to today’s call. We are excited to share with you our results for the fourth quarter and the full year 2022. I am pleased to report that we achieved strong sales growth of CAPLYTA and we continue to advance our promising pipeline. 2022 was an exceptional year for the growth of CAPLYTA as we successfully launched our new indication for bipolar depression. CAPLYTA’s prescriptions tripled in 2022 compared to 2021. We have received very positive feedback from physicians and patients on CAPLYTA’s efficacy, tolerability and ease of use. We believe CAPLYTA is having a positive impact on patients. For 2022, our total revenues were $250.3 million. CAPLYTA net sales were $249.1 million versus $83.8 million in 2021, representing a 205% increase. CAPLYTA’s net sales for the fourth quarter 2022 were $87.4 million representing a year-over-year increase of 243%.