Vanda reports FY2023 revenue $192.6M (-24% YoY); Q4 net loss $2.4M; PDUFA dates in 2024

Vanda Pharmaceuticals Inc.

2023-FY EPS reported $0.04 revenue$192,640,000

Full year 2023 net product sales $192.6M, down 24% from $254.4M; Q4 net loss $2.4M vs income $6.9M in Q4 2022.
HETLIOZ sales fell 47% YoY in Q4 due to generic at-risk launches; Fanapt down 7%; PONVORY added $1.6M post-acquisition Dec 7.
Ended 2023 with $388.3M cash, down $78.6M; $100M spent on PONVORY acquisition.
Three PDUFA target action dates in 2024: HETLIOZ insomnia March 4 (FDA cited deficiencies, Vanda sued), Fanapt bipolar April 2, tradipitant gastroparesis Sept 18.
Vanda unable to provide 2024 financial guidance due to HETLIOZ patent litigation and generic competition.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vanda Pharmaceuticals Inc. reported financial results for the fourth quarter and full year ended December 31, 2023.

Period: the fourth quarter and full year ended December 31, 2023
Result: reported results

Exact text from the filing

On February 7, 2024, Vanda Pharmaceuticals Inc. (“Vanda”) issued a press release and is holding a conference call regarding its results of operations and financial condition for the quarter and full year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001628280-24-003693

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