Last10K.com

Vanda Pharmaceuticals Inc. (VNDA) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Vanda Pharmaceuticals Inc.

CIK: 1347178 Ticker: VNDA

Exhibit 99.1
 vandaq32019earningsca_imag.jpg
Vanda Pharmaceuticals Reports First Quarter 2021 Financial Results
 
Q1 2021 total revenues were $62.7 million, an 8% increase compared to Q1 2020
The Phase III clinical study of tradipitant in gastroparesis is expected to complete enrollment in the second quarter of 2021
A Phase III clinical study for HETLIOZ® in delayed sleep phase disorder (DSPD) was initiated in the first quarter of 2021

WASHINGTON – May 5, 2021 /PRNewswire/ – Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA) today announced financial and operational results for the first quarter ended March 31, 2021.
“Despite seasonal and global challenges, we recorded another quarter of strong revenue across our commercial portfolio coupled with the launch of HETLIOZ® in the new indication of nighttime sleep disturbances in patients with Smith-Magenis Syndrome,” said Mihael H. Polymeropoulos, M.D., President and CEO of Vanda. “In our clinical programs, we have made significant progress, reaching 85% randomization in our Phase III tradipitant study in gastroparesis and initiating a new clinical program for HETLIOZ® in delayed sleep phase disorder.”
Financial Highlights
 
Total net product sales from HETLIOZ® and Fanapt® were $62.7 million in the first quarter of 2021, an 8% increase compared to $58.0 million in the first quarter of 2020.
 
HETLIOZ® net product sales were $39.3 million in the first quarter of 2021, an 11% increase compared to $35.3 million in the first quarter of 2020.

Fanapt® net product sales were $23.3 million in the first quarter of 2021, a 3% increase compared to $22.7 million in the first quarter of 2020.

Income before taxes was $10.4 million in the first quarter of 2021 compared to $1.2 million in the first quarter of 2020.
Cash, cash equivalents and marketable securities (Cash) was $378.2 million as of March 31, 2021, representing an increase to Cash of $65.8 million compared to March 31, 2020.
Key Operational Highlights
Tradipitant
The gastroparesis Phase III clinical study (VP-VLY-686-3301) is ongoing. The study has a target enrollment of 200 randomized patients and is expected to complete enrollment in the second quarter of 2021, with a New Drug Application (NDA) filing expected in late 2021 or early 2022.
HETLIOZ® (tasimelteon)
In December 2020, the U.S. Food and Drug Administration (FDA) approved HETLIOZ® capsule and liquid formulations for the treatment of adults and children, respectively, with nighttime sleep disturbances in Smith-Magenis Syndrome (SMS).1 HETLIOZ® capsules, for adults with SMS, were immediately available after approval and the HETLIOZ LQTM liquid formulation, for children with SMS, became available in the first quarter of 2021.
A Phase III clinical study of HETLIOZ® in delayed sleep phase disorder (DSPD) was initiated in the first quarter of 2021.


The following information was filed by Vanda Pharmaceuticals Inc. (VNDA) on Wednesday, May 5, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Vanda Pharmaceuticals Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Vanda Pharmaceuticals Inc..

Continue

Assess how Vanda Pharmaceuticals Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Vanda Pharmaceuticals Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Changes In Stockholders' Equity (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Accounts Payable And Accrued Liabilities
Accounts Payable And Accrued Liabilities (Detail)
Accounts Payable And Accrued Liabilities (Tables)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Tables)
Accumulated Other Comprehensive Income - Summary Of Accumulated Balances Related To Each Component Of Other Comprehensive Income (Loss) (Detail)
Business Organization And Presentation
Business Organization And Presentation (Detail)
Commitments And Contingencies
Commitments And Contingencies - (Cftr Activators And Inhibitors) - Additional Information (Detail)
Commitments And Contingencies - (Fanapt) - Additional Information (Detail)
Commitments And Contingencies - (Hetlioz) - Additional Information (Detail)
Commitments And Contingencies - (Tradipitant) - Additional Information (Detail)
Commitments And Contingencies - (Vqw-765) - Additional Information (Detail)
Commitments And Contingencies - Purchase Commitments (Details)
Earnings Per Share
Earnings Per Share (Detail)
Earnings Per Share (Tables)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Assets Measured At Fair Value On Recurring Basis (Detail)
Income Taxes
Income Taxes (Details)
Intangible Assets
Intangible Assets (Tables)
Intangible Assets - (Fanapt) - Additional Information (Detail)
Intangible Assets - (Hetlioz) - Additional Information (Detail)
Intangible Assets - Additional Information (Detail)
Intangible Assets - Summary Of Future Intangible Asset Amortization (Detail)
Intangible Assets - Summary Of Intangible Assets (Detail)
Inventory
Inventory (Detail)
Inventory (Tables)
Legal Matters
Marketable Securities
Marketable Securities (Tables)
Marketable Securities - Available-For-Sale Marketable Securities (Detail)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - (Rsu) - Additional Information (Detail)
Stock-Based Compensation - (Stock Option) - Additional Information (Detail)
Stock-Based Compensation - (Stock-Based Compensation) - Additional Information (Detail)
Stock-Based Compensation - Black-Scholes-Merton Option Pricing Model For Stock Options Granted (Detail)
Stock-Based Compensation - Summary Of Option Activity (Detail)
Stock-Based Compensation - Summary Of Rsu Activity Plan (Detail)
Stock-Based Compensation - Total Stock-Based Compensation Expense (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Cash, Cash Equivalents And Restricted Cash (Details)
Summary Of Significant Accounting Policies - Major Customers (Detail)
Summary Of Significant Accounting Policies - Net Sales By Product (Detail)

Material Contracts, Statements, Certifications & more

Vanda Pharmaceuticals Inc. provided additional information to their SEC Filing as exhibits

Ticker: VNDA
CIK: 1347178
Form Type: 10-Q Quarterly Report
Accession Number: 0001347178-21-000015
Submitted to the SEC: Thu May 06 2021 7:01:47 AM EST
Accepted by the SEC: Thu May 06 2021
Period: Wednesday, March 31, 2021
Industry: Pharmaceutical Preparations

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/vnda/0001347178-21-000015.htm