secwatch.observer — SEC 8-K summary
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Issuer:     Vanda Pharmaceuticals Inc. (VNDA)
CIK:        0001347178
Form:       8-K
Filed at:   2026-02-11T23:59:59+00:00
Accession:  0001628280-26-007256
Event type: earnings
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347178/000162828026007256/0001628280-26-007256-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347178/000162828026007256/vnda-20260211.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-007256

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer