2024 Q2 Form 10-Q Financial Statement
#000162828024020849 Filed on May 07, 2024
Income Statement
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| Revenue | $161.4M | $144.9M |
| YoY Change | 45.67% | 52.0% |
| Cost Of Revenue | $11.35M | $9.900M |
| YoY Change | 58.51% | 46.64% |
| Gross Profit | $150.0M | $135.0M |
| YoY Change | 44.78% | 52.41% |
| Gross Profit Margin | 92.96% | 93.17% |
| Selling, General & Admin | $121.6M | $113.1M |
| YoY Change | 20.35% | 14.32% |
| % of Gross Profit | 81.03% | 83.79% |
| Research & Development | $56.18M | $42.83M |
| YoY Change | 12.83% | 12.65% |
| % of Gross Profit | 37.45% | 31.74% |
| Depreciation & Amortization | $129.0K | $132.0K |
| YoY Change | 4.88% | -1.49% |
| % of Gross Profit | 0.09% | 0.1% |
| Operating Expenses | $189.1M | $165.8M |
| YoY Change | 25.4% | 15.39% |
| Operating Profit | -$27.72M | -$20.95M |
| YoY Change | -41.24% | -56.7% |
| Interest Expense | $11.56M | $6.064M |
| YoY Change | 155.19% | 39.43% |
| % of Operating Profit | ||
| Other Income/Expense, Net | ||
| YoY Change | ||
| Pretax Income | -$16.16M | -$14.89M |
| YoY Change | -62.1% | -66.2% |
| Income Tax | $57.00K | $359.0K |
| % Of Pretax Income | ||
| Net Earnings | -$16.22M | -$15.25M |
| YoY Change | -62.09% | -65.39% |
| Net Earnings / Revenue | -10.05% | -10.52% |
| Basic Earnings Per Share | -$0.16 | -$0.16 |
| Diluted Earnings Per Share | -$0.16 | -$0.16 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 105.6M shares | 96.81M shares |
| Diluted Shares Outstanding | 103.7M shares | 96.88M shares |
Balance Sheet
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $1.023B | $475.6M |
| YoY Change | 99.45% | -11.71% |
| Cash & Equivalents | $693.3M | $139.8M |
| Short-Term Investments | $329.6M | $335.8M |
| Other Short-Term Assets | $75.55M | $67.80M |
| YoY Change | 59.52% | 17.91% |
| Inventory | $20.08M | $15.95M |
| Prepaid Expenses | ||
| Receivables | $145.7M | $131.2M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $1.264B | $690.5M |
| YoY Change | 81.11% | -2.2% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $1.445M | $1.522M |
| YoY Change | -90.64% | -14.45% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $7.739M | $7.688M |
| YoY Change | 8898.84% | 8839.53% |
| Total Long-Term Assets | $56.25M | $56.51M |
| YoY Change | 262.24% | 251.77% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $1.264B | $690.5M |
| Total Long-Term Assets | $56.25M | $56.51M |
| Total Assets | $1.321B | $747.0M |
| YoY Change | 85.05% | 3.44% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $17.55M | $11.53M |
| YoY Change | 126.92% | 36.62% |
| Accrued Expenses | $144.2M | $123.3M |
| YoY Change | 70.99% | 73.26% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $161.8M | $134.8M |
| YoY Change | 75.69% | 69.38% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $14.12M | $12.74M |
| YoY Change | -2.18% | -14.87% |
| Total Long-Term Liabilities | $14.12M | $12.74M |
| YoY Change | -2.18% | -14.87% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $161.8M | $134.8M |
| Total Long-Term Liabilities | $14.12M | $12.74M |
| Total Liabilities | $175.9M | $147.5M |
| YoY Change | 65.14% | 56.05% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$1.649B | -$1.632B |
| YoY Change | 5.39% | 7.29% |
| Common Stock | $2.794B | $2.232B |
| YoY Change | 28.53% | 3.74% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $1.145B | $599.5M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $1.321B | $747.0M |
| YoY Change | 85.05% | 3.44% |
Cashflow Statement
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$16.22M | -$15.25M |
| YoY Change | -62.09% | -65.39% |
| Depreciation, Depletion And Amortization | $129.0K | $132.0K |
| YoY Change | 4.88% | -1.49% |
| Cash From Operating Activities | $542.0K | -$34.12M |
| YoY Change | -101.47% | -43.2% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $53.00K | |
| YoY Change | ||
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $7.819M | $16.18M |
| YoY Change | -91.75% | -198.28% |
| Cash From Investing Activities | $7.766M | $16.18M |
| YoY Change | -91.8% | -198.28% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 545.2M | $9.989M |
| YoY Change | 6250.37% | 174.42% |
| NET CHANGE | ||
| Cash From Operating Activities | 542.0K | -$34.12M |
| Cash From Investing Activities | 7.766M | $16.18M |
| Cash From Financing Activities | 545.2M | $9.989M |
| Net Change In Cash | 553.5M | -$7.948M |
| YoY Change | 731.92% | -89.1% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $542.0K | -$34.12M |
| Capital Expenditures | $53.00K | |
| Free Cash Flow | $489.0K | |
| YoY Change | -101.33% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2024Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
144866000 | usd |
| CY2023Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
95306000 | usd |
| CY2024Q1 | itci |
Cost Of Product Sales
CostOfProductSales
|
9900000 | usd |
| CY2023Q1 | itci |
Cost Of Product Sales
CostOfProductSales
|
6751000 | usd |
| CY2024Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
113085000 | usd |
| CY2023Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
98923000 | usd |
| CY2024Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
42833000 | usd |
| CY2023Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
38024000 | usd |
| CY2024Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
165818000 | usd |
| CY2023Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
143698000 | usd |
| CY2024Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-20952000 | usd |
| CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-48392000 | usd |
| CY2024Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
6064000 | usd |
| CY2023Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
4349000 | usd |
| CY2024Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-14888000 | usd |
| CY2023Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-44043000 | usd |
| CY2024Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
359000 | usd |
| CY2023Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
10000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-15247000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-44053000 | usd |
| CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.16 | |
| CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.16 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.46 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.46 | |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
96875275 | shares |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
96875275 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
95134694 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
95134694 | shares |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-15247000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-44053000 | usd |
| CY2024Q1 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
-534000 | usd |
| CY2023Q1 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
1492000 | usd |
| CY2024Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-15781000 | usd |
| CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-42561000 | usd |
| CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
656070000 | usd |
| CY2023Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
3640000 | usd |
| CY2023Q1 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
22000 | usd |
| CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
10439000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-44053000 | usd |
| CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
1492000 | usd |
| CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
627610000 | usd |
| CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
591424000 | usd |
| CY2024Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
9989000 | usd |
| CY2024Q1 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
23000 | usd |
| CY2024Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
13843000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-15247000 | usd |
| CY2024Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-534000 | usd |
| CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
599498000 | usd |
| CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-15247000 | usd |
| CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-44053000 | usd |
| CY2024Q1 | us-gaap |
Depreciation
Depreciation
|
132000 | usd |
| CY2023Q1 | us-gaap |
Depreciation
Depreciation
|
134000 | usd |
| CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
13843000 | usd |
| CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
10439000 | usd |
| CY2024Q1 | us-gaap |
Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
|
23000 | usd |
| CY2023Q1 | us-gaap |
Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
|
22000 | usd |
| CY2024Q1 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
2343000 | usd |
| CY2023Q1 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
1737000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
17139000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
6356000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
499000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
4421000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
24000000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
10557000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
80000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-1954000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
5305000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
1410000 | usd |
| CY2024Q1 | itci |
Increase Decrease In Accrued Customer Programs
IncreaseDecreaseInAccruedCustomerPrograms
|
-16799000 | usd |
| CY2023Q1 | itci |
Increase Decrease In Accrued Customer Programs
IncreaseDecreaseInAccruedCustomerPrograms
|
-4271000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-10955000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-6340000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-115000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-924000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-34116000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-60066000 | usd |
| CY2024Q1 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
81046000 | usd |
| CY2023Q1 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
108457000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
|
97225000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
|
91995000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
16179000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-16462000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
9989000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
3640000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
9989000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
3640000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-7948000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-72888000 | usd |
| CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
149517000 | usd |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
150365000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
141569000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
77477000 | usd |
| CY2024Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
139819000 | usd |
| CY2023Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
75727000 | usd |
| CY2024Q1 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
1750000 | usd |
| CY2023Q1 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
1750000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
141569000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
77477000 | usd |
| CY2024Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment |
| CY2024Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment |
| CY2024Q1 | itci |
Clinical Trial Advances
ClinicalTrialAdvances
|
17076000 | usd |
| CY2023Q4 | itci |
Clinical Trial Advances
ClinicalTrialAdvances
|
11630000 | usd |
| CY2024Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates </span></div>The preparation of financial statements in conformity with GAAP 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. | |
| CY2024Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentration of Credit Risk </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments which potentially subject the Company to concentrations of credit risk consist of accounts receivable, net from customers and cash, cash equivalents and investments held at financial institutions. For the three-month period ended March 31, 2024, 98% of product sales were generated from three major industry wholesalers. </span></div>Three individual customers accounted for approximately 37%, 26%, and 35% as well as 37%, 31%, and 29% of product sales for the three-month periods ended March 31, 2024 and 2023, respectively. As of March 31, 2024, the Company continues to believe that such customers are of high credit quality. | |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Amortized Cost After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss
|
396234000 | usd |
| CY2024Q1 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
82000 | usd |
| CY2024Q1 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
512000 | usd |
| CY2024Q1 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
395804000 | usd |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Amortized Cost After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss
|
412570000 | usd |
| CY2023Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
490000 | usd |
| CY2023Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
386000 | usd |
| CY2023Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
412674000 | usd |
| CY2024Q1 | us-gaap |
Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
|
93000000 | usd |
| CY2023Q4 | us-gaap |
Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
|
77800000 | usd |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
253500000 | usd |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
|
37800000 | usd |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
|
215700000 | usd |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
165200000 | usd |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
|
70100000 | usd |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
|
95100000 | usd |
| CY2024Q1 | us-gaap |
Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
|
31200000 | usd |
| CY2023Q4 | us-gaap |
Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
|
10700000 | usd |
| CY2024Q1 | itci |
Prefunded Customer Program
PrefundedCustomerProgram
|
4567000 | usd |
| CY2023Q4 | itci |
Prefunded Customer Program
PrefundedCustomerProgram
|
3514000 | usd |
| CY2024Q1 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
73736000 | usd |
| CY2023Q4 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
49736000 | usd |
| CY2024Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
66048000 | usd |
| CY2023Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
42443000 | usd |
| CY2024Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
7688000 | usd |
| CY2023Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
7293000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
|
P12M | |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
|
P12M | |
| CY2024Q1 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
34818000 | usd |
| CY2023Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
38621000 | usd |
| CY2024Q1 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
8875000 | usd |
| CY2023Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
4277000 | usd |
| CY2024Q1 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
7074000 | usd |
| CY2023Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
7370000 | usd |
| CY2024Q1 | itci |
Inventory Current And Noncurrent Net Of Reserves
InventoryCurrentAndNoncurrentNetOfReserves
|
50767000 | usd |
| CY2023Q4 | itci |
Inventory Current And Noncurrent Net Of Reserves
InventoryCurrentAndNoncurrentNetOfReserves
|
50268000 | usd |
| CY2024Q1 | us-gaap |
Inventory Net
InventoryNet
|
15949000 | usd |
| CY2023Q4 | us-gaap |
Inventory Net
InventoryNet
|
11647000 | usd |
| CY2024Q1 | us-gaap |
Inventory Noncurrent
InventoryNoncurrent
|
34818000 | usd |
| CY2023Q4 | us-gaap |
Inventory Noncurrent
InventoryNoncurrent
|
38621000 | usd |
| CY2024Q1 | itci |
Inventory Net Subject To Supplemental Regulatory Procedures
InventoryNetSubjectToSupplementalRegulatoryProcedures
|
7800000 | usd |
| CY2023Q4 | itci |
Inventory Net Subject To Supplemental Regulatory Procedures
InventoryNetSubjectToSupplementalRegulatoryProcedures
|
7700000 | usd |
| CY2024Q1 | itci |
Prepaid Operating Expenses Non Clinical
PrepaidOperatingExpensesNonClinical
|
28312000 | usd |
| CY2023Q4 | itci |
Prepaid Operating Expenses Non Clinical
PrepaidOperatingExpensesNonClinical
|
19465000 | usd |
| CY2024Q1 | us-gaap |
Deposit Assets
DepositAssets
|
23781000 | usd |
| CY2023Q4 | us-gaap |
Deposit Assets
DepositAssets
|
15127000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P5Y | |
| CY2023Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P5Y3M18D | |
| CY2024Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0907 | |
| CY2023Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0907 | |
| CY2024Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
941000 | usd |
| CY2023Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1085000 | usd |
| CY2024Q1 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
411000 | usd |
| CY2023Q1 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
404000 | usd |
| CY2024Q1 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
536000 | usd |
| CY2023Q1 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
672000 | usd |
| CY2024Q1 | us-gaap |
Lease Cost
LeaseCost
|
1888000 | usd |
| CY2023Q1 | us-gaap |
Lease Cost
LeaseCost
|
2161000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
2850000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
3907000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
3974000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
4022000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
4144000 | usd |
| CY2024Q1 | itci |
Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
|
1771000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
20668000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
4292000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
16376000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
3639000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
12737000 | usd |
| CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
13843000 | usd |
| CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
10439000 | usd |
| CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
4239982 | shares |
| CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
28.22 | |
| CY2023 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P5Y2M12D | |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
0 | shares |
| CY2024Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
461857 | shares |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
5020 | shares |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
3773105 | shares |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
28.99 | |
| CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P5Y2M12D | |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
3773105 | shares |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
28.99 | |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
3379986 | shares |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
26.29 | |
| CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P4Y10M24D | |
| CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false |
