Vanda Q2 2024 revenue $50.5M (+10% YoY); net loss $4.5M; Fanapt bipolar launch underway

Vanda Pharmaceuticals Inc.

2024-Q2 EPS reported -$0.15 revenue$97,936,000

Q2 2024 total revenues $50.5M (up 10% YoY); net loss $4.5M vs net income $1.5M in Q2 2023.
Fanapt approved for bipolar I disorder; commercial launch initiated in Q3 2024; PONVORY launch for MS also started.
Tradipitant NDA for gastroparesis under FDA review; PDUFA date Sept 18, 2024; FDA preliminary notice of deficiencies.
HETLIOZ net sales $18.7M (-15% YoY) amid generic competition; lawsuit vs Teva/Apotex allowed to proceed.
Full-year 2024 guidance: total revenues $180-210M; year-end cash $360-390M; cash $387.7M at June 30.

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