8-K
filed July 27, 2023, 7:59 PM ET
ticker VNDA
CIK 0001347178
earnings
confidence high
sentiment negative
materiality 0.80
Vanda Q2 revenue drops 28% to $46.1M on HETLIOZ generic erosion
Vanda Pharmaceuticals Inc.
2023-Q2 EPS reported
$0.08
revenue$108,554,000
- HETLIOZ net sales $22.0M, down 47% YoY due to at-risk generic launch.
- Net income $1.5M ($0.03 EPS) vs $2.6M ($0.05 EPS) in Q2 2022.
- Fanapt net sales $24.1M, up 4% YoY.
- No 2023 guidance provided; HETLIOZ sales expected to decline further.
- Federal Circuit upheld generic win; Vanda requested rehearing, response due Aug 1.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Vanda Pharmaceuticals Inc. reported first six months of 2023 results: revenue $108.6 million, net income $4.8 million, EPS $0.08.
- Period
- first six months of 2023
- Revenue
- $108.6 million
- Net income
- $4.8 million
- EPS
- $0.08
- Result
- reported results
Exact text from the filing
First Six Months of 2023 • Total net product sales from HETLIOZ ® and Fanapt ® were $108.6 million in the first six months of 2023, a 13% decrease compared to $124.6 million in the first six months of 2022. • HETLIOZ ® net product sales were $61.6 million in the first six months of 2023, a 21% decrease compared to $78.2 million in the first six months of 2022. The decrease was the result of the at-risk launch of a generic version of HETLIOZ ® in the U.S. • Fanapt ® net product sales were $47.0 million in the first six months of 2023, a 1% increase compared to $46.4 million in the first six months of 2022. • Net income was $4.8 million in the first six months of 2023 compared to a net loss of $3.9 million in the first six months of 2022. • Cash, cash equivalents and marketable securities (Cash) was $489.4 million as of June 30, 2023, representing an increase to Cash of $48.5 million, or 11%, compared to June 30, 2022. Key Operational Highlights Fanapt ® (iloperidone) • Vanda previously
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Vanda Pharmaceuticals Inc. reported second quarter 2023 results: revenue $46.1 million, net income $1.5 million, EPS $0.03.
- Period
- second quarter 2023
- Revenue
- $46.1 million
- Net income
- $1.5 million
- EPS
- $0.03
- Result
- reported results
Exact text from the filing
Financial Highlights Second Quarter of 2023 • Total net product sales from HETLIOZ ® and Fanapt ® were $46.1 million in the second quarter of 2023, a 28% decrease compared to $64.4 million in the second quarter of 2022. • HETLIOZ ® net product sales were $22.0 million in the second quarter of 2023, a 47% decrease compared to $41.2 million in the second quarter of 2022. The decrease was the result of the at-risk launch of a generic version of HETLIOZ ® in the U.S. • Fanapt ® net product sales were $24.1 million in the second quarter of 2023, a 4% increase compared to $23.2 million in the second quarter of 2022. • Net income was $1.5 million in the second quarter of 2023 compared to net income of $2.6 million in the second quarter of 2022. • Cash, cash equivalents and marketable securities (Cash) was $489.4 million as of June 30, 2023, representing a decrease to Cash of $12.1 million, or 2%, compared to March 31, 2023. First Six Months of 2023 • Total net product sales from HETLIOZ ® and
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