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Intra-Cellular drops, halted after FDA advisory committee meeting cancelled.

Shares of Intra-Cellular Therapies (ITCI) dropped sharply and the stock was halted for volatility after the FDA cancelled an advisory committee meeting that had been planned to discuss an application made by the company. In a post on its website, the FDA stated: "The meeting of the Psychopharmacologic Drugs Advisory Committee meeting for July 31, 2019 is cancelled. This meeting has been cancelled because of new information regarding the application. The Agency intends to continue evaluating the application and, as needed, will announce future meeting dates in the Federal Register." The committee meeting had been planned to discuss new drug application 209500, lumateperone tosylate capsules for oral administration, submitted by Intra-Cellular Therapies, for the treatment of schizophrenia. Prior to being halted, Intra-Cellular shares fell $1.76, or 14.7%, to $10.22. [Reference Link]:[https://bit.ly/2LCjXNC]

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Publication:The Fly
Date:Jul 23, 2019
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