Exhibit 99.1
 vandaq32019earningsca_imaga.jpg
Vanda Pharmaceuticals Reports Fourth Quarter and Full Year
2020 Financial Results
 
Q4 2020 total revenues grew to $67.7 million, an 11% increase compared to Q4 2019
Full year 2020 total revenues grew to $248.2 million, a 9% increase compared to 2019
Full year 2021 total revenues expected to be between $270 million and $300 million, an increase of approximately 15% compared to 2020
End of year 2021 Cash expected to be greater than $400 million

WASHINGTON – February 10, 2021 /PRNewswire/ – Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA) today announced financial and operational results for the fourth quarter and full year ended December 31, 2020.
“I am very proud of the significant accomplishments we realized during this challenging year,” said Mihael H. Polymeropoulos, M.D., President and CEO of Vanda. “As we look forward to the new year, it is worth noting some of our significant accomplishments from 2020: Vanda achieved record commercial revenue despite extraordinary difficulty in the field, which we believe is a testament to the value our products bring to patients; HETLIOZ® received FDA approval for nighttime sleep disturbances in patients with Smith-Magenis Syndrome; our tradipitant gastroparesis Phase III study continued recruitment; the FDA approved individual Expanded Access to tradipitant for multiple gastroparesis patients; we launched the tradipitant study for COVID-19 pneumonia; the FDA approved the Investigational New Drug application for VSJ-110 in allergic conjunctivitis; the United States Supreme Court affirmed the patent ruling on Fanapt®; and our research and development efforts advanced the clinical programs for our commercial assets as well as those in our pipeline. We look forward to another great year of accomplishments, including further revenue growth, the commercial launch of HETLIOZ® in patients with Smith-Magenis Syndrome, and the results of the tradipitant Phase III study in gastroparesis, to highlight a few.”
Key Financial and Corporate Highlights
Fourth Quarter of 2020
 
Total net product sales from HETLIOZ® and Fanapt® were $67.7 million in the fourth quarter of 2020, an 11% increase compared to $60.9 million in the fourth quarter of 2019.
 
HETLIOZ® net product sales were $44.2 million in the fourth quarter of 2020, a 14% increase compared to $38.6 million in the fourth quarter of 2019.

Fanapt® net product sales were $23.5 million in the fourth quarter of 2020, a 5% increase compared to $22.3 million in the fourth quarter of 2019.

Income before taxes was $10.9 million in the fourth quarter of 2020 compared to $5.8 million in the fourth quarter of 2019.
Full Year 2020
Total net product sales from HETLIOZ® and Fanapt® were $248.2 million for the full year 2020, a 9% increase compared to $227.2 million for the full year 2019.
 
HETLIOZ® net product sales were $160.7 million for the full year 2020, a 12% increase compared to $143.0 million for the full year 2019.

Fanapt® net product sales were $87.5 million for the full year 2020, a 4% increase compared to $84.2 million for the full year 2019.

Income before taxes was $31.7 million for the full year 2020 compared to $29.0 million for the full year 2019.


The following information was filed by Vanda Pharmaceuticals Inc. (VNDA) on Wednesday, February 10, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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