NEW YORK, May 11, 2017 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces it is continuing to investigate potential securities claims on behalf of shareholders of Intra-Cellular Therapies, Inc. (NASDAQ: ITCI) resulting from allegations that Intra-Cellular Therapies may have issued materially misleading business information to the investing public.
Intra-Cellular Therapies is currently developing ITI-007 (lumateperone) for the treatment of schizophrenia. On August 4, 2016, Intra-Cellular Therapies CEO Sharon Mates stated during an earnings call that "our studies to-date supports the efficacy and the safety of ITI-007 for the treatment of schizophrenia." On May 1, 2017, Intra-Cellular Therapies revealed that the U.S. Food and Drug Administration had requested additional information to confirm findings observed in nonclinical animal toxicology studies of lumateperone are not indicative of a safety risk associated with long term exposure in humans. On this news, shares of Intra-Cellular Therapies fell $2.71 per share or approximately 20% on May 1, 2017, damaging investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Intra-Cellular Therapies investors. If you purchased shares of Intra-Cellular Therapies on or before April 28, 2017, please visit the firm's website at http://www.rosenlegal.com/cases-1111.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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SOURCE Rosen Law Firm, P.A.