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Vanda Pharmaceuticals Reports Fourth Quarter and Full Year 2019 Financial Results
Full year 2019 total revenues grew to $227.2 million, an 18% increase compared to 2018
Full year 2020 total revenues expected to be between $240 million and $260 million
Results from the EPIONE study of Tradipitant in the treatment of Pruritus in Atopic Dermatitis reported today
WASHINGTON February 25, 2020 Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq:VNDA) today announced financial and operational results for the fourth quarter and full year ended December 31, 2019.
We had another year of outstanding commercial growth, said Mihael H. Polymeropoulos, M.D., Vandas President and CEO. I have never been more excited about the opportunities ahead with our relentless focus on developing innovative therapies for patients in need.
Key Financial Highlights
Total revenues were $60.9 million in the fourth quarter of 2019, a 15% increase compared to $53.0 million in the fourth quarter of 2018. Total revenues were $227.2 million for the full year 2019, an 18% increase compared $193.1 million for the full year 2018.
HETLIOZ® net product sales were $38.6 million in the fourth quarter of 2019, a 19% increase compared to $32.4 million in the fourth quarter of 2018. HETLIOZ® net product sales were $143.0 million for the full year 2019, a 23% increase compared to $115.8 million for the full year 2018.
Fanapt® net product sales were $22.3 million in the fourth quarter of 2019, an 8% increase compared to $20.6 million in the fourth quarter of 2018. Fanapt® net product sales were $84.2 million for the full year 2019, a 9% increase compared to $77.3 million for the full year 2018.
Cash, cash equivalents and marketable securities (Cash) were $312.1 million as of December 31, 2019, representing an increase to Cash of $54.8 million compared to December 31, 2018.
Key Product and Pipeline Highlights
Results from the EPIONE study of tradipitant in the treatment of pruritus in atopic dermatitis were reported today. Vanda will reassess EPIONE 2 and determine next steps.
Enrollment in the Phase III study of tradipitant in gastroparesis (VP-VLY-686-3301) is ongoing.
Vanda expects to complete the Phase III program of tradipitant in motion sickness and file a New Drug Application with the U.S. Food and Drug Administration (FDA) in 2020.
Vanda continues to engage with the FDA over the requirement of a 9-month dog toxicity study.
The following information was filed by Vanda Pharmaceuticals Inc. (VNDA) on Tuesday, February 25, 2020 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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