$ITCI
Intra-Cellular Therapies, Inc.

2014 Q2 Form 10-Q Financial Statement

#000119312514182535 Filed on May 05, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q1
Revenue $219.2K $167.8K $598.3K
YoY Change -65.92% -71.95% 3.15%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.120M $1.910M $1.050M
YoY Change 135.56% 81.9% 5.0%
% of Gross Profit
Research & Development $2.710M $2.829M $4.952M
YoY Change -65.21% -42.87% 34.21%
% of Gross Profit
Depreciation & Amortization $6.430K $6.317K $6.199K
YoY Change -35.7% 1.9%
% of Gross Profit
Operating Expenses $2.710M $2.829M $4.952M
YoY Change -65.21% -42.87% 5.59%
Operating Profit -$4.612M -$4.574M -$5.401M
YoY Change -42.7% -15.3%
Interest Expense $2.032K $5.041K $241.3K
YoY Change -99.12% -97.91% 2313.16%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$4.530M -$4.540M -$5.640M
YoY Change -45.29% -19.5% 37.56%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.534M -$4.543M -$5.638M
YoY Change -45.23% -19.42% 37.19%
Net Earnings / Revenue -2067.86% -2707.77% -942.48%
Basic Earnings Per Share
Diluted Earnings Per Share -$154.8K -$171.5K -$494.3K
COMMON SHARES
Basic Shares Outstanding 29.23M shares 29.22M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $140.5M $145.6M
YoY Change 1264.08%
Cash & Equivalents $91.14M $143.6M $14.89M
Short-Term Investments $49.40M $2.000M
Other Short-Term Assets $500.0K $600.0K
YoY Change 400.0%
Inventory
Prepaid Expenses
Receivables $219.2K $167.8K
Other Receivables $0.00 $0.00
Total Short-Term Assets $141.2M $146.4M
YoY Change 1219.7%
LONG-TERM ASSETS
Property, Plant & Equipment $63.85K $65.08K
YoY Change -36.15%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $70.94K $200.4K
YoY Change -29.06%
Total Long-Term Assets $134.8K $265.5K
YoY Change -32.6%
TOTAL ASSETS
Total Short-Term Assets $141.2M $146.4M
Total Long-Term Assets $134.8K $265.5K
Total Assets $141.3M $146.6M
YoY Change 1196.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $415.8K $2.143M
YoY Change -85.15%
Accrued Expenses $2.300M $1.800M
YoY Change -39.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.739M $3.912M
YoY Change -87.93%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.739M $3.912M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $2.700M $3.900M
YoY Change -88.11%
SHAREHOLDERS EQUITY
Retained Earnings -$66.64M -$62.11M
YoY Change
Common Stock $2.934K $2.922K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $138.6M $142.7M
YoY Change
Total Liabilities & Shareholders Equity $141.3M $146.6M
YoY Change 1196.72%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income -$4.534M -$4.543M -$5.638M
YoY Change -45.23% -19.42% 37.19%
Depreciation, Depletion And Amortization $6.430K $6.317K $6.199K
YoY Change -35.7% 1.9%
Cash From Operating Activities -$5.200M -$6.980M
YoY Change -43.48%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K $3.120K $5.055K
YoY Change 0.0% -38.28%
Acquisitions
YoY Change
Other Investing Activities -$47.44M $0.00
YoY Change -3262.67%
Cash From Investing Activities -$47.45M $0.00
YoY Change -3284.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $116.2M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 170.0K 115.5M
YoY Change -57.5%
NET CHANGE
Cash From Operating Activities -5.200M -6.980M
Cash From Investing Activities -47.45M 0.000
Cash From Financing Activities 170.0K 115.5M
Net Change In Cash -52.48M 108.5M
YoY Change 617.92%
FREE CASH FLOW
Cash From Operating Activities -$5.200M -$6.980M
Capital Expenditures -$10.00K $3.120K $5.055K
Free Cash Flow -$5.190M -$6.983M
YoY Change -43.53%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2014Q1 us-gaap Share Price
SharePrice
17.50
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
29227745 shares
CY2013Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14891046
CY2014Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
29222746 shares
CY2014Q1 us-gaap Business Acquisition Percentage Of Voting Interests Acquired
BusinessAcquisitionPercentageOfVotingInterestsAcquired
1.00 pure
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1174640 shares
CY2014Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
29222746 shares
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.63
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1568125 shares
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
3.63
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1568125 shares
CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-62107781
CY2014Q1 us-gaap Common Stock Value
CommonStockValue
2922
CY2014Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
146636660
CY2014Q1 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
0
CY2014Q1 us-gaap Assets Current
AssetsCurrent
146371138
CY2014Q1 us-gaap Certificates Of Deposit At Carrying Value
CertificatesOfDepositAtCarryingValue
2000000
CY2014Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
65075
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
15645528
CY2013Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
22159446 shares
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.76
CY2014Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2014Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2014Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3238320
CY2014Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
204829884
CY2014Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
940594
CY2014Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
2142779
CY2014Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2014Q1 us-gaap Liabilities Current
LiabilitiesCurrent
3911635
CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
142725025
CY2014Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
828262
CY2014Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
200447
CY2014Q1 us-gaap Assets
Assets
146636660
CY2014Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
143618247
CY2014Q1 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
27200000
CY2014Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
167787
CY2014Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3303395
CY2014Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
585104
CY2013Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
22159446 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.98
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1400125 shares
CY2013Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2013Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2013Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3232003
CY2013Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
89177556
CY2013Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
2611091
CY2013Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
3395067
CY2013Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2013Q4 us-gaap Liabilities Current
LiabilitiesCurrent
6834037
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
31615275
CY2013Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
827879
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-57564497
CY2013Q4 us-gaap Common Stock Value
CommonStockValue
2216
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
38449312
CY2013Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
0
CY2013Q4 us-gaap Assets Current
AssetsCurrent
38249485
CY2013Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
131555
CY2013Q4 us-gaap Assets
Assets
38449312
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35150924
CY2013Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
27000000
CY2013Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
336318
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3300275
CY2013Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
762243
CY2013Q4 us-gaap Certificates Of Deposit At Carrying Value
CertificatesOfDepositAtCarryingValue
2000000
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
68272
CY2014Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
7063300 shares
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
115453280
CY2014Q1 itci Share Issued During Period Shares Underwriters New Issues
ShareIssuedDuringPeriodSharesUnderwritersNewIssues
921300 shares
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y3M18D
CY2013Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
14599612 shares
CY2013Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-2291365
CY2013Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.39
CY2013Q1 us-gaap Revenues
Revenues
598252
CY2013Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-41895
CY2013Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
800
CY2013Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
3555
CY2013Q1 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
0
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-5400616
CY2013Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-69517
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
-5638377
CY2013Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5055
CY2013Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1046608
CY2013Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
1541938
CY2013Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-416664
CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
74070
CY2013Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
5998868
CY2013Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-754482
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
1536883
CY2013Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
209854
CY2013Q1 us-gaap Interest Expense
InterestExpense
241316
CY2013Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3362141
CY2013Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4952260
CY2013Q1 us-gaap Depreciation
Depreciation
6199
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
Intra-Cellular Therapies, Inc.
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001567514
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.020 pure
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.80 pure
CY2014Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y7M6D
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
168000 shares
CY2014Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y4M24D
CY2014Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26475907 shares
CY2014Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
17.35
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-6982837
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2014Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.17
CY2014Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
shares
CY2014Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y4M24D
CY2014Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
shares
CY2014Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 18px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Concentration of Credit Risk</b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px"><font style="FONT-FAMILY: Times New Roman" size="2">Cash equivalents are held with major financial institutions in the United States. Certificates of deposit held with banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and, therefore, bear minimal risk.</font></p> </div>
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
CY2014Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Use of Estimates</b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px"><font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although actual results could differ from those estimates, management does not believe that such differences would be material.</font></p> </div>
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-4574463
CY2014Q1 us-gaap Interest Paid
InterestPaid
5041
CY2014Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
738005
CY2014Q1 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 18px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Deferred Revenue</b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px"><font style="FONT-FAMILY: Times New Roman" size="2">Cash received as prepayment on future services is deferred and recognized as revenue as the services are performed. The Company must remit interest on any deferred revenue related to a governmental agency. As of March&#xA0;31, 2014 and December&#xA0;31, 2013, no interest was due as the Company did not have any deferred revenue from a government agency.</font></p> </div>
CY2014Q1 us-gaap Revenues
Revenues
167787
CY2014Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-108247
CY2014Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
3900
CY2014Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
36220
CY2014Q1 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
0
CY2014Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-168531
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-4543284
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3120
CY2014Q1 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2014Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1912951
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
115453280
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
199754
CY2014Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
4742250
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
108467323
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-3120
CY2014Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1670114
CY2014Q1 us-gaap Interest Expense
InterestExpense
5041
CY2014Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1252288
CY2014Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
116191285
CY2014Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2829299
CY2014Q1 us-gaap Depreciation
Depreciation
6317
CY2014Q1 itci Percentage Of Dividend Rate
PercentageOfDividendRate
0.00 pure
CY2014Q1 itci Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageRemainingContractualTerm
CY2014Q1 itci License Expiration Periods
LicenseExpirationPeriods
The later of expiration of the last licensed patent covering a licensed product, its method of manufacture or use, the expiration of other government grants providing market exclusivity or 10 years after first commercial sale of a licensed product in such country, subject to rights of the parties to sooner terminate the agreement on certain events and the right of Takeda to unilaterally terminate the agreement upon a specified number of days' prior notice
CY2014Q1 itci Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Remaining Contractual Term2
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageRemainingContractualTerm2
P6Y4M24D
CY2014Q1 itci Certificates Of Deposit Maturity Period
CertificatesOfDepositMaturityPeriod
More than three months
CY2014Q1 itci Maturity Period Of Liquid Investments To Be Considered As Cash Equivalents
MaturityPeriodOfLiquidInvestmentsToBeConsideredAsCashEquivalents
Three months or less
CY2014Q1 itci Share Based Compensation Arrangement By Share Based Payment Award Canceled Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardCanceledWeightedAverageRemainingContractualTerm

Files In Submission

Name View Source Status
0001193125-14-182535-index-headers.html Edgar Link pending
0001193125-14-182535-index.html Edgar Link pending
0001193125-14-182535.txt Edgar Link pending
0001193125-14-182535-xbrl.zip Edgar Link pending
d707537d10q.htm Edgar Link pending
d707537dex311.htm Edgar Link pending
d707537dex312.htm Edgar Link pending
d707537dex32.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
itci-20140331.xml Edgar Link completed
itci-20140331.xsd Edgar Link pending
itci-20140331_cal.xml Edgar Link unprocessable
itci-20140331_def.xml Edgar Link unprocessable
itci-20140331_lab.xml Edgar Link unprocessable
itci-20140331_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending