SAN DIEGO, Sept. 29, 2016 /PRNewswire/ -- Shareholder Rights Law Firm Johnson & Weaver, LLP has commenced an investigation of Intra-Cellular Therapies, Inc. (NASDAQ: ITCI) concerning possible violations of federal securities laws. Intra-Cellular is a biopharmaceutical company that discovers and develops small molecule drugs for the treatment of neuropsychiatric and neurologic disorders within the central nervous system (CNS).
On September 28, 2016, Intra-Cellular announced its phase III trial of its schizophrenia drug was unsuccessful. The drug failed to reduce patients' schizophrenia symptoms when compared to a placebo. A third set of patients was given risperidone, an approved schizophrenia drug, and saw their symptoms improve. Specifically, Johnson & Weaver's investigation seeks to determine whether prior statements regarding the Company's drug prospects were false and misleading when made.
On the news Intra-Cellular shares were trading down over 65% in early morning trading on September 29, 2016.
If you have information that could assist in this investigation, including past employees and others, or if you are a Intra-Cellular shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) by email or phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/intra-cellular-therapies-itci-alert--shareholder-rights-law-firm-johnson--weaver-llp-announces-investigation-of-intra-cellular-therapies-inc-investors-encouraged-to-contact-firm-300336525.html
SOURCE Johnson & Weaver, LLP