Vanda FY2025: Fanapt sales +24% to $117.3M; net loss $220.5M; guides 2026 rev $230-260M

Vanda Pharmaceuticals Inc.

2025-FY EPS reported -$3.74 revenue$216,105,000

Fanapt net product sales $117.3M (+24% YoY); total revenues $216.1M (+9%); total prescriptions +28%, NBRx +149%.
Net loss $220.5M ($3.74 diluted EPS) includes $113.7M non-cash valuation allowance; adjusted net loss $106.8M ($1.81 EPS).
FDA approved NEREUS (tradipitant) for motion-induced vomiting; Bysanti NDA PDUFA Feb 21, 2026; imsidolimab BLA submitted.
FY2026 guidance: total revenue $230-260M (Fanapt $150-170M; other products $80-90M).
Cash & equivalents $263.8M as of Dec 31, 2025, down $110.8M from Dec 31, 2024.

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