secwatch.observer — SEC 8-K summary
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Issuer:     Vanda Pharmaceuticals Inc. (VNDA)
CIK:        0001347178
Form:       8-K
Filed at:   2024-02-07T23:59:59+00:00
Accession:  0001628280-24-003693
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347178/000162828024003693/0001628280-24-003693-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347178/000162828024003693/vnda-20240207.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-003693

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