definiens: within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward - looking statements . Such forward - looking statements include statements regarding, among other things, our proposed development plans for our portfolio ofPDEl inhibitors ; our beliefs about the potential uses and benefits of PDEl inhibitors ; and our research and development efforts and plans under the caption All such forward - looking statements are based on management 's present expectations and are subject to certain factors, risks and uncertainties that may cause actual results, outcome of events, timing and performance to differ materially from those expressed or implied by such statements . These risks and uncertainties include, but are not limited to the following : our current and planned clinical trials for ITI-007 and our other product candidates may not be successful or may take longer and be more costly than anticipated ; product candidates that appeared promising in earlier research and clinical trials may not demonstrate safety and/or efficacy in larger - scale or later clinical trials ; our reliance on collaborative partners and other third - parties for development and commercialization of our product candidates ; and the other risk factors discussed under the heading contained in our Annual Report on Form 10 - K for the year ended December 31, 2013 filed with the Securities and Exchange Commission, as well as any updates to those risk factors filed from time to time in our periodic and current reports . All statements contained in this press release are made only as of the date of this press release, and we do not intend to update this information unless required by law