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Vanda Pharmaceuticals Inc. (VNDA) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

SEC Filings

VNDA Quarterly Reports

Vanda Pharmaceuticals Inc.

CIK: 1347178 Ticker: VNDA

Exhibit 99.1
 vandaq32019earningsca_imag.jpg
Vanda Pharmaceuticals Reports Fourth Quarter and Full Year 2021 Financial Results
 
Full year 2021 total revenues grew to $268.7 million, an 8% increase compared to 2020
Full year 2022 total revenues expected to be between $240 million and $280 million
End of year 2022 Cash expected to be greater than $440 million
WASHINGTON – February 23, 2022 /PRNewswire/ – Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA) today announced financial and operational results for the fourth quarter and full year ended December 31, 2021.
“We are proud of the progress we have made this past year with our existing products and in bringing HETLIOZ® to patients with Smith-Magenis Syndrome, leading to a strong financial performance, even in the face of extraordinary challenges,” said Mihael H. Polymeropoulos, M.D., Vanda’s President, CEO and Chairman of the Board. “We advanced our clinical products pipeline with a number of programs in early and late-stage clinical development and we believe that our recently completed Phase III study of tradipitant in gastroparesis gets us closer to being able to provide a new treatment option for patients with this significant unmet medical need, despite the study not meeting its prespecified primary endpoint.
Financial Highlights
Fourth Quarter of 2021
 
Total net product sales from HETLIOZ® and Fanapt® were $68.0 million in the fourth quarter of 2021, a 1% increase compared to $67.7 million in the fourth quarter of 2020.
 
HETLIOZ® net product sales were $44.1 million in the fourth quarter of 2021 compared to $44.2 million in the fourth quarter of 2020.

Fanapt® net product sales were $24.0 million in the fourth quarter of 2021, a 2% increase compared to $23.5 million in the fourth quarter of 2020.

Net income was $7.1 million in the fourth quarter of 2021 compared to $8.2 million in the fourth quarter of 2020.
Full Year 2021

Total net product sales from HETLIOZ® and Fanapt® were $268.7 million for the full year 2021, an 8% increase compared to $248.2 million for the full year 2020.
 
HETLIOZ® net product sales were $173.5 million for the full year 2021, an 8% increase compared to $160.7 million for the full year 2020.

Fanapt® net product sales were $95.1 million for the full year 2021, a 9% increase compared to $87.5 million for the full year 2020.

Net income was $33.2 million for the full year 2021 compared to $23.3 million for the full year 2020.

Cash, cash equivalents and marketable securities (Cash) was $432.8 million as of December 31, 2021, representing an increase to Cash of $65.1 million compared to December 31, 2020.



The following information was filed by Vanda Pharmaceuticals Inc. (VNDA) on Wednesday, February 23, 2022 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

Cover
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 (Loss) (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Accounts Payable And Accrued Liabilities
Accounts Payable And Accrued Liabilities (Details)
Accounts Payable And Accrued Liabilities (Tables)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Details)
Accumulated Other Comprehensive Loss (Tables)
Business Organization And Presentation
Business Organization And Presentation (Details)
Commitments And Contingencies
Commitments And Contingencies - Cftr Activators And Inhibitors - Additional Information (Details)
Commitments And Contingencies - Fanapt - Additional Information (Details)
Commitments And Contingencies - Hetlioz - Additional Information (Details)
Commitments And Contingencies - Purchase Commitments - Additional Information (Details)
Commitments And Contingencies - Tradipitant - Additional Information (Details)
Commitments And Contingencies - Vqw-765 - Additional Information (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Income Taxes
Income Taxes (Details)
Intangible Assets
Intangible Assets (Tables)
Intangible Assets - Additional Information (Details)
Intangible Assets - Summary Of Future Intangible Asset Amortization (Details)
Intangible Assets - Summary Of Intangible Assets (Details)
Inventory
Inventory (Details)
Inventory (Tables)
Legal Matters
Marketable Securities
Marketable Securities (Details)
Marketable Securities (Tables)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Black-Scholes-Merton Option Pricing Model For Employee And Director Stock Options Granted (Details)
Stock-Based Compensation - Restricted Stock Units - Additional Information (Details)
Stock-Based Compensation - Stock Option - Additional Information (Details)
Stock-Based Compensation - Stock-Based Compensation Expense (Details)
Stock-Based Compensation - Summary Of Option Activity (Details)
Stock-Based Compensation - Summary Of Rsu Activity (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Major Customers (Details)
Summary Of Significant Accounting Policies - Net Product Sales (Details)
Summary Of Significant Accounting Policies - Reconciliation Of Cash, Cash Equivalents And Restricted Cash (Details)

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: 0001628280-22-012834
Submitted to the SEC: Fri May 06 2022 7:03:23 AM EST
Accepted by the SEC: Fri May 06 2022
Period: Thursday, March 31, 2022
Industry: Pharmaceutical Preparations

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