04:48 PM EDT, 04/16/2024 (MT Newswires) -- Intra-Cellular Therapies ( ITCI ) late Tuesday disclosed plans for a $500 million public offering of its common stock, subject to market and other conditions.

The biopharmaceutical company will provide underwriters a 30-day option to purchase an additional $75 million in shares to cover overallotments.

Intra-Cellular was 2% lower in extended trading, paring a portion of its more than 23% advance in Tuesday's regular session after reporting positive topline results from a phase 3 trial of a combination of its Caplyta schizophrenia medication and an antidepressant in patients with major depressive disorder.

The company did not immediately indicate how it would use proceeds from the prospective offering.