Check out which companies are making headlines after the bell on Wednesday:
Intra-Cellular Therapies plummeted 69 percent after the market closed Wednesday. The biopharmaceutical company announced top-line results from the second phase 3 clinical trial on a treatment for schizophrenia. The medicine at the center of the trial, ITI-007, "did not separate from the placebo ... in part due to an unusually high placebo response."
"We plan to request a meeting with the U.S. Food and Drug Administration's Division of Psychiatry Products to discuss the regulatory path for this first-in-class investigation agent," the company said in a press release. The stock closed up 2 percent, trading at $42.35 on Wednesday.
Shares of National Beverage inched up about 2 percent after the bell. The LaCroix maker took a hit Wednesday after Glaucus Research revealed a short position in the company. The stock closed down 8.2 percent, trading at $42.67.
Progress Software plunged about 10 percent in after-hours trading Tuesday. The company reported quarterly earnings of 44 cents per share compared to analyst estimates of 45 cents, according to Factset. Revenue was $102.4 million, below Factset's analyst estimates of $104.7 million. The software company also initiated a quarterly dividend of 12.5 cents per share, payable on December 15.
Pier 1 Imports spiked 7.5 percent after it reported earnings Wednesday. The retail chain reported a net loss of 5 cents per share on sales of $405.8 million. Factset showed analysts estimated a net loss of 6 cents per share on revenue of $405.5 million. The company adjusted its full-year guidance to fall within a range of 24 cents per share and 32 cents per share.