Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Q2 2020 Earnings Conference Call - Final Transcript

Aug 10, 2020 • 08:30 am ET


Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning, ladies and gentlemen, and welcome to the Intra-Cellular Therapies Second Quarter Ended June 30, 2020 Financial Results Conference Call.

[Operator Instructions]

I'd now like to turn the conference over to your host, Dr. Juan Sanchez, Vice President, Corporate Communications and Investor Relations. Please go ahead.

Juan Sanchez

Thank you, operator. Good morning and thank you all for joining us for today's conference call. Our earnings press release providing a corporate update and details of the company's financial results for the second quarter ended June 30, 2020 crossed [Phonetic] the wire a short time ago and is available on our website at

Joining me on the call today are Dr. Sharon Mates, Chairman and Chief Executive Officer, Dr. Andrew Satlin, Executive Vice President and Chief Medical Officer, Mark Neumann, Executive Vice President and Chief Commercial Officer, Larry Hineline, Senior Vice President and Chief Financial Officer, and Michael Halstead, Executive Vice President and General Counsel.

As a reminder, during today's call, we will be making certain forward-looking statements. These statements may include statements regarding, among other things, the efficacy, safety and intended utilization of the company's product development candidates, our clinical and non-clinical plans, our plans to present or report additional data, the anticipated conduct and results of ongoing and future clinical trials, plans regarding regulatory filings, future research and development, our plans and expectations regarding the commercialization of CAPLYTA, potential impact of the COVID-19 pandemic on our business and possible uses of existing cash and investment resources.

These forward-looking statements are based on current information, assumptions and expectations that are subject to change and involve a number of risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. These and other risks are described in our periodic filings made with the Securities and Exchange Commission, including our quarterly and annual reports. You're cautioned not to place undue reliance on these forward-looking statements, and the company disclaims any obligations to update such statements.

I will now turn the call over to Sharon.

Sharon Mates

Thanks, Juan. Good morning, everyone. We hope you have remained safe and healthy this summer.

We have completed our first quarter of commercial activities, and I am encouraged by CAPLYTA's week-over-week prescription growth and increasing prescriber base while adapting to the unprecedented challenges presented by COVID-19. During these challenging times, the team at Intra-Cellular Therapies has been executing our commercial launch of CAPLYTA to provide schizophrenia patients a new well-tolerated treatment option. In concert with our commercial execution of CAPLYTA, we are also advancing our development programs.

During this call, I will provide updates on our ongoing CAPLYTA launch and other corporate initiatives. Following my remarks, Mark Neumann, our Chief Commercial Officer, will provide additional details on our commercial activities. Andrew Satlin, our Chief Medical Officer, will provide an update of our clinical development programs. And Larry Hineline, our CFO, will provide details of our second quarter financials.

Let me begin with our commercial progress. We launched CAPLYTA on March 30 in