---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-007256"
form_type: "8-K"
ticker: "VNDA"
cik: "0001347178"
company_name: "Vanda Pharmaceuticals Inc."
filed_at: "2026-02-11T23:59:59+00:00"
generated_at: "2026-05-16T03:14:55.876824+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-26-007256
- form_type: 8-K
- ticker: VNDA
- cik: 0001347178
- company_name: Vanda Pharmaceuticals Inc.
- filed_at: 2026-02-11T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1347178/000162828026007256/0001628280-26-007256-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1347178/000162828026007256/vnda-20260211.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-007256
- JSON: https://secwatch.observer/filing/0001628280-26-007256.json
- Plain text: https://secwatch.observer/filing/0001628280-26-007256.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.