NEW YORK, Dec. 18, 2018 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Intra-Cellular Therapies, Inc. ("Intra-Cellular" or the "Company") (NASDAQ: ITCI) Investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Intra-Cellular and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On December 18, 2018, Intra-Cellular Therapies issued a press release announcing that "an independent data monitoring committee (DMC) has completed a pre-specified interim analysis of the Company's ongoing clinical trial with low-dose lumateperone (9 mg ITI-007) for the treatment of agitation in patients with probable Alzheimer's disease (Study 201)." Intra-Cellular Therapies stated that "[t]he DMC concluded that Study 201 is not likely to meet its primary endpoint upon completion and therefore recommended the study should be stopped for futility. As a result of this recommendation, the Company has determined to discontinue Study 201." Following this announcement, Intra-Cellular Therapies' stock price fell sharply during intraday trading on December 18, 2018.
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
SOURCE Pomerantz LLP