Vanda Pharmaceuticals Inc. (VNDA) 10-Q Quarterly Report November 2021

WASHINGTON – November 3, 2021 /PRNewswire/ – Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA) today announced financial and operational results for the third quarter ended September 30, 2021.

“Vanda is approaching another pivotal moment in its 18-year history with the upcoming completion of the Phase III study of tradipitant in gastroparesis and anticipated results by the end of this year. We believe that tradipitant has the potential to become the first new product in 40 years for the treatment of gastroparesis, a serious and debilitating disorder that severely impacts the lives of many people. Additionally, the launch of HETLIOZ® and HETLIOZ LQ™ for nighttime sleep disturbances in people with Smith-Magenis Syndrome is progressing well as we are beginning our broad awareness campaign. Across all of our programs, patient access to innovative treatments remains a key goal of Vanda. We are currently working to address the escalating reimbursement delays for HETLIOZ®, which are especially impacting Non-24 patients with light perception, and we are confident in our ability to drive positive outcomes for patients. I am proud of the Vanda team for continuing to advance Vanda’s innovation objectives and creating value for patients and all of the company’s stakeholders,” said Mihael H. Polymeropoulos, M.D., Vanda’s President, CEO and Chairman of the Board.

Financial Highlights

Third Quarter of 2021

•Total net product sales from HETLIOZ® and Fanapt® were $70.1 million in the third quarter of 2021, a 16% increase compared to $60.3 million in the third quarter of 2020.

•HETLIOZ® net product sales were $45.6 million in the third quarter of 2021, a 15% increase compared to $39.6 million in the third quarter of 2020.

•Fanapt® net product sales were $24.5 million in the third quarter of 2021, an 18% increase compared to $20.7 million in the third quarter of 2020.

•Income before taxes was $10.7 million in the third quarter of 2021 compared to $8.4 million in the third quarter of 2020.

First Nine Months of 2021

•Total net product sales from HETLIOZ® and Fanapt® were $200.7 million in the first nine months of 2021, an 11% increase compared to $180.5 million in the first nine months of 2020.

•HETLIOZ® net product sales were $129.5 million in the first nine months of 2021, an 11% increase compared to $116.5 million in the first nine months of 2020.

•Fanapt® net product sales were $71.2 million in the first nine months of 2021, an 11% increase compared to $64.0 million in the first nine months of 2020.

•Income before taxes was $33.8 million in the first nine months of 2021 compared to $20.7 million in the first nine months of 2020.

The following information was filed by Vanda Pharmaceuticals Inc. (VNDA) on Wednesday, November 3, 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.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

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

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: VNDA
CIK: 1347178
Form Type: 10-Q Quarterly Report
Accession Number: 0001347178-21-000032
Submitted to the SEC: Thu Nov 04 2021 7:11:02 AM EST
Accepted by the SEC: Thu Nov 04 2021
Period: Thursday, September 30, 2021
Industry: Pharmaceutical Preparations

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Vanda Pharmaceuticals Inc. (VNDA) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

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