{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-23-025916","form_type":"8-K","ticker":"VNDA","cik":"0001347178","company_name":"Vanda Pharmaceuticals Inc.","filed_at":"2023-07-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:33.673258+00:00","generated_at":"2026-06-13T00:04:37.137007+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Vanda Q2 revenue drops 28% to $46.1M on HETLIOZ generic erosion","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-23-025916","json":"https://secwatch.observer/filing/0001628280-23-025916.json","markdown":"https://secwatch.observer/filing/0001628280-23-025916.md","text":"https://secwatch.observer/filing/0001628280-23-025916.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1347178/000162828023025916/0001628280-23-025916-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1347178/000162828023025916/vnda-20230727.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T00:04:37.137007+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"62d21116326c5ac1e33d5be7b70355a21cdca70d","claim":"Vanda Pharmaceuticals Inc. reported first six months of 2023 results: revenue $108.6 million, net income $4.8 million, EPS $0.08.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1347178/000162828023025916/0001628280-23-025916-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first six months of 2023"},{"label":"Revenue","value":"$108.6 million"},{"label":"Net income","value":"$4.8 million"},{"label":"EPS","value":"$0.08"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"6be673553e78583122f576bc189a648aeff792c4","claim":"Vanda Pharmaceuticals Inc. reported second quarter 2023 results: revenue $46.1 million, net income $1.5 million, EPS $0.03.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1347178/000162828023025916/0001628280-23-025916-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"second quarter 2023"},{"label":"Revenue","value":"$46.1 million"},{"label":"Net income","value":"$1.5 million"},{"label":"EPS","value":"$0.03"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}