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Sep 30, 2023
Intra-Cellular Q3 2023 Earnings Report
Intra-Cellular Therapies experienced revenue growth driven by Caplyta sales and raised full year sales guidance.
Key Takeaways
Intra-Cellular Therapies reported a strong third quarter with total revenues increasing to $126.2 million, driven by a 75% increase in Caplyta net product sales to $125.8 million. The company raised its full year 2023 Caplyta net product sales guidance to $460 to $470 million.
Total revenues for Q3 2023 reached $126.2 million, up from $71.9 million in Q3 2022.
Net product sales of CAPLYTA in Q3 2023 were $125.8 million, a 75% increase compared to $71.9 million in the same period last year.
CAPLYTA total prescriptions increased 71% in Q3 2023 compared to the same period in 2022.
Full year 2023 CAPLYTA net product sales guidance was raised to $460 - $470 million.
Intra-Cellular
Intra-Cellular
Forward Guidance
Intra-Cellular Therapies anticipates continued growth and advancement of its pipeline programs.
Positive Outlook
- Full year 2023 CAPLYTA net product sales guidance increased to $460 to $470 million.
- Full year 2023 SG&A expense guidance lowered to $405 to $420 million.
- Full year 2023 R&D expense guidance lowered to $185 to $200 million.
- Topline results from Study 501 are expected in the first quarter of 2024.
- Topline results from Study 502 are expected in the second quarter of 2024.
Challenges Ahead
- There are no guarantees that CAPLYTA will be commercially successful.
- The company may encounter issues, delays or other challenges in commercializing CAPLYTA.
- CAPLYTA's acceptance by patients and physicians may be limited.
- The company's product sales and availability may be limited by challenges associated with supply and manufacturing activities.
- The company may encounter unexpected safety or tolerability issues with CAPLYTA.