NEW YORK, May 1, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Intra-Cellular Therapies, Inc. ("Intra-Cellular" or the "Company") (NASDAQ: ITCI). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Intra-Cellular and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On May 1, 2017, Intra-Cellular reported that the U.S. Food and Drug Administration had raised questions "relating to certain findings observed in nonclinical animal toxicology studies" of lumateperone, the Company's proposed schizophrenia treatment, and "requested additional information to confirm that the nonclinical findings are not indicative of a safety risk associated with long term exposure in humans."
On this news, Intra-Cellular's share price has fallen as much as $5.97, or 43.2%, during intraday trading on May 1, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP