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Vanda Pharmaceuticals Reports Fourth Quarter 2017 and Full Year 2017 Financial Results
Full year 2017 total revenues grew to $165.1 million, a 13% increase compared to 2016
WASHINGTON February 14, 2018 Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq:VNDA) today announced financial and operational results for the fourth quarter and full year ended December 31, 2017.
|||Total net product sales from HETLIOZ® and Fanapt® were $44.3 million in the fourth quarter of 2017, a 7% increase compared to $41.3 million in the third quarter of 2017 and a 16% increase compared to $38.2 million in the fourth quarter of 2016.|
|||HETLIOZ® net product sales were $25.0 million in the fourth quarter of 2017, a 12% increase compared to $22.3 million in the third quarter of 2017 and a 30% increase compared to $19.3 million in the fourth quarter of 2016.|
|||Fanapt® net product sales were $19.3 million in the fourth quarter of 2017, a 1% increase compared to $19.1 million in the third quarter of 2017 and a 2% increase compared to $18.9 million in the fourth quarter of 2016.|
|||Fanapt® prescriptions, as reported by IQVIA, were 28,159 in the fourth quarter of 2017, a 1% increase compared to the third quarter of 2017, which represents the first quarter to demonstrate sequential growth since the second quarter of 2014.|
Research and Development
|||A tradipitant for atopic dermatitis Phase III clinical study is expected to begin in the first half of 2018.|
|||A tradipitant clinical study for the treatment of gastroparesis is ongoing. Results are expected by the end of 2018.|
|||HETLIOZ® studies for the treatment of jet lag disorder (2102 and 3107) have each completed enrollment. Results from the jet lag disorder clinical program are expected in the first quarter of 2018.|
|||Enrollment in a pharmacokinetic study of the HETLIOZ® pediatric liquid formulation was completed in the fourth quarter of 2017.|
|||Enrollment in the Smith-Magenis Syndrome clinical study is ongoing. Results are expected by the end of 2018.|
VTR-297 (histone deactetylase (HDAC) inhibitor)
|||A VTR-297 Phase I study (1101) in patients with hematologic malignancies is expected to start in the second half of 2018.|
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The following information was filed by Vanda Pharmaceuticals Inc. (VNDA) on Wednesday, February 14, 2018 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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