VNDA
Vanda Pharmaceuticals Inc.6.65
+0.02+0.3%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
LAI delays surface; launches detailed.
Q&A largely reaffirmed the prepared script but added timeline color and a key execution risk: iloperidone LAI enrollment slowed by European placebo resistance, dimming year-end completion odds. Nereus launches late Q2/early Q3 with premium pricing eyed versus Dramamine; GLP-1 Phase III results due late Q3/Q4 2026. Vasanti promises fatter gross-to-net (mid-30s% vs Fanapt's 50%) via Medicaid reset, while 2026 Fanapt guide assumes pure volume growth sans cannibalization. Imsidolimab eyes small derm sales force. LAI lags sting.
Key Stats
Market Cap
392.99MP/E (TTM)
-Basic EPS (TTM)
-1.44Dividend Yield
0%Recent Filings
8-K
NEREUS DTC launch imminent
Vanda Pharmaceuticals disclosed on March 10, 2026, a pricing and commercial strategy for FDA-approved NEREUS, targeting motion-induced vomiting prevention. CEO Mihael Polymeropoulos revealed NEREUSRX, a direct-to-consumer channel. Drug availability hits in the next couple of months. Not filed under securities laws.
8-K
FDA approves Bysanti for bipolar, schizophrenia
Vanda Pharmaceuticals scored FDA approval for Bysanti (milsaperidone), a new chemical entity bioequivalent to iloperidone, on February 20, 2026, for acute bipolar I manic/mixed episodes and schizophrenia in adults. This atypical antipsychotic leverages over 100,000 patient-years of safety data. Launch set for Q3 2026. Patents extend to 2044.
8-K
Exec comp awards announced
Vanda Pharmaceuticals' Compensation Committee awarded 2025 bonuses totaling over $1.9M to named executives, led by CEO Polymeropoulos at $834,326, while approving 2026 base salaries up to $994,625 and targets at 80% for CEO. They granted 525,000 RSUs to CEO vesting over four years from March 2027, plus 175,000 target PSUs tied to relative TSR versus Nasdaq Biotech Index through 2028. Equity aligns leadership with shareholders.
10-K
FY2025 results
Vanda Pharmaceuticals posted FY2025 net product sales of $216.1M, up 9% y/y, driven by Fanapt®'s 24% surge to $117.3M on 28% prescription growth and bipolar launch momentum, while HETLIOZ® dipped 7% to $71.4M amid U.S. generic pressure and PONVORY® held steady at $27.4M. Q4 Fanapt® accelerated with 36% prescription gains and 25% sales jump (derived), but HETLIOZ® inventories linger from prior generic entries. Cash burned to $264M on heavy R&D ($109M, +47%) for Bysanti™ (PDUFA Feb 2026), imsidolimab BLA, and NEREUS™ approvals; no capex or buybacks noted. NEREUS™ motion sickness launch ramps Q1 2026. Generic HETLIOZ® erosion threatens quarterly sales.
8-K
Fanapt sales up 24%; NEREUS approved
Vanda reported full-year 2025 revenues up 9% to $216.1M, powered by Fanapt sales surging 24% to $117.3M on 28% prescription growth. FDA approved NEREUS for motion sickness vomiting prevention; Bysanti NDA awaits February 21, 2026 decision. Fanapt drives growth. Cash stands at $263.8M despite $113.7M non-cash tax charge.
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