Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Q3 2023 Earnings Conference Call November 2, 2023 8:30 AM ET

Company Participants

Juan Sanchez – Head-Investor Relations

Sharon Mates – Chairman and Chief Executive Officer

Mark Neumann – Chief Commercial Officer

Larry Hineline – Chief Financial Officer

Suresh Durgam – Chief Medical Officer

Conference Call Participants

Tanmay Patwardhan – J.P. Morgan

Andrew Tsai – Jefferies

Charles Duncan – Cantor Fitzgerald

Umer Raffat – Evercore

Michael Riad – Morgan Stanley

Marc Goodman – Leerink

Ami Fadia – Needham & Company

Graig Suvannavejh – Mizuho Securities

Jason Gerberry – Bank of America

Corinne Jenkins – Goldman Sachs

Operator

Thank you for standing by, and welcome to the Intra-Cellular Therapies 3Q 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s call is being recorded.

I would now like to turn the call over to your host Dr. Juan Sanchez, Head of Investor Relations at ITCI. Please go ahead, sir.

Juan Sanchez

Good morning, and thank you all for being here. 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 involve 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 are cautioned not to place undue reliance on these forward-looking statements, and the company disclaims any obligations to update such statements.

I will now turn the call over to Sharon. Sharon?

Sharon Mates

Thanks, Juan. Good morning, everyone. I’m pleased to report on our continued progress and the strong third quarter results we delivered. The positive trajectory for CAPLYTA we have seen over the past few quarters continues bolstered by positive reports from both prescriber and patients.

In the third quarter, CAPLYTA total prescriptions increased by 71% compared to third quarter of 2022. Third quarter total revenues increased to $126.2 million. CAPLYTA net sales increased to $125.8 million, a 75% growth versus the same period in 2022. Demand for CAPLYTA has been strong, and we expect to sustain forward momentum.