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Vanda Pharmaceuticals Inc. (VNDA) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

SEC Filings

VNDA Quarterly Reports

Vanda Pharmaceuticals Inc.

CIK: 1347178 Ticker: VNDA

Exhibit 99.1
 vandaq32019earningsca_imaga.jpg
Vanda Pharmaceuticals Reports Second Quarter 2022 Financial Results
 
Q2 2022 total revenues were $64.4 million
Total revenues in the first six months of 2022 were $124.6 million
Vanda provides update on pipeline advancements and upcoming milestones
WASHINGTON – August 3, 2022 /PRNewswire/ – Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA) today announced financial and operational results for the second quarter ended June 30, 2022.
“During the second quarter we made significant progress towards commercializing our products and improving access to HETLIOZ® for patients with Non-24,” said Mihael H. Polymeropoulos, M.D., Vanda’s President, CEO and Chairman of the Board. “We advanced our clinical pipeline, with significant clinical milestones expected in the coming quarters, and we are preparing our NDA for tradipitant in gastroparesis and our sNDA for HETLIOZ® in insomnia.”
Financial Highlights
Second Quarter of 2022 
Total net product sales from HETLIOZ® and Fanapt® were $64.4 million in the second quarter of 2022, a 5% decrease compared to $67.9 million in the second quarter of 2021.
 
HETLIOZ® net product sales were $41.2 million in the second quarter of 2022, a 7% decrease compared to $44.5 million in the second quarter of 2021, due in part to continued reimbursement challenges for prescriptions for patients with Non-24.

Fanapt® net product sales were $23.2 million in the second quarter of 2022, a 1% decrease compared to $23.4 million in the second quarter of 2021.

Net income was $2.6 million in the second quarter of 2022 compared to $9.7 million in the second quarter of 2021.
First Six Months of 2022
Total net product sales from HETLIOZ® and Fanapt® were $124.6 million in the first six months of 2022, a 5% decrease compared to $130.6 million in the first six months of 2021.
 
HETLIOZ® net product sales were $78.2 million in the first six months of 2022, a 7% decrease compared to $83.9 million in the first six months of 2021, due in part to continued reimbursement challenges for prescriptions for patients with Non-24.

Fanapt® net product sales were $46.4 million in the first six months of 2022, a 1% decrease compared to $46.7 million in the first six months of 2021.

Net loss was $3.9 million in the first six months of 2022 compared to net income of $18.3 million in the first six months of 2021.

Cash, cash equivalents and marketable securities (Cash) was $440.9 million as of June 30, 2022, representing an increase to Cash of $44.4 million compared to June 30, 2021.



The following information was filed by Vanda Pharmaceuticals Inc. (VNDA) on Wednesday, August 3, 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: 0001628280-22-020848
Submitted to the SEC: Thu Aug 04 2022 7:02:13 AM EST
Accepted by the SEC: Thu Aug 04 2022
Period: Thursday, June 30, 2022
Industry: Pharmaceutical Preparations

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