Intra-Cellular Therapies Inc (NASDAQ:ITCI) reported a proposed public offering of 10,000,000 shares of common stock.
The New York-based Intra-Cellular is a biopharmaceutical company founded on Nobel prize-winning research that allows it to understand how therapies affect the inner-workings of cells in the body. The company leverages this intracellular approach to develop innovative treatments for people living with complex psychiatric and neurologic diseases.
The announcement was made at the close of business on Monday.
In connection with the offering, Intra-Cellular intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. All of the shares in the offering will be sold by Intra-Cellular Therapies.
J.P. Morgan Securities LLC, SVB Leerink LLC and Evercore Group L.L.C. are acting as joint book-running managers for the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The public offering will be made pursuant to a shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission and became effective upon filing.
ITCI opened Tuesday down 34 cents a share, or 1.1%, to $30.28.
