Investing.com - Shares of Intracellular Therapies (NASDAQ:ITCI) rallied on Wednesday after the biopharmaceutical company received positive feedback from the U.S. Food and Drug Administration (FDA) for lumateperone, its experimental drug for schizophrenia.
Intracellular's shares were up 27% in afternoon trade with 6.69 million shares changing hands, well above the 30-day average of about 259,000 shares per day.
Intra-Cellular said it now expects to submit a marketing application for the drug by mid-2018.