Vanda Pharmaceuticals Inc.
NASDAQ•VNDA
CEO: Dr. Mihael H. Polymeropoulos M.D.
Sector: Healthcare
Industry: Biotechnology
Listing Date: 2006-04-12
Vanda Pharmaceuticals Inc., a biopharmaceutical company, focuses on the development and commercialization of therapies to address high unmet medical needs worldwide. The company's marketed products include HETLIOZ to treat non-24-hour sleep-wake disorders; and Fanapt oral tablets for the treatment of schizophrenia. Its pipeline products include HETLIOZ (tasimelteon) to treat jet lag disorder, insomnia, delayed sleep phase disorder, sleep disturbances in autism spectrum disorder, and pediatric Non-24; Fanapt (iloperidone) for the treatment of bipolar I disorder and Parkinson's disease psychosis, as well as a long acting injectable (LAI) formulation to treat schizophrenia; and Tradipitant (VLY-686), a small molecule neurokinin-1 receptor (NK-1R) antagonist to treat gastroparesis, motion sickness, atopic dermatitis, and COVID-19 pneumonia. The company's pipeline products also include VTR-297, a small molecule histone deacetylase inhibitor to treat hematologic malignancies and with potential use as a treatment for various oncology indications; VQW-765, a small molecule nicotinic acetylcholine receptor partial agonist to treat performance anxiety and psychiatric disorders; VHX-896, an active metabolite of iloperidone; and antisense oligonucleotide molecules. In addition, it offers a portfolio of cystic fibrosis transmembrane conductance regulator activators and inhibitors that include VSJ-110 for the treatment of dry eye and ocular inflammation; and VPO-227 for the treatment of secretory diarrhea disorders comprising cholera. Vanda Pharmaceuticals Inc. was incorporated in 2002 and is headquartered in Washington, the District of Columbia.
Contact Information
2200 Pennsylvania Avenue NW, Suite 300E, Washington, DC, 20037, United States
202-734-3400
Market Cap
$473.36M
P/E (TTM)
-5.6
37
Dividend Yield
--
52W High
$9.60
52W Low
$3.81
52W Range
Rank35Top 29.9%
4.6
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025
Financial Dashboard
Q3 2025 Data
Revenue
$56.26M+18.06%
4-Quarter Trend
EPS
-$0.38+315.75%
4-Quarter Trend
FCF
-$31.79M+115.62%
4-Quarter Trend
2025 Q3 Earnings Highlights
Key Highlights
Fanapt Sales Strong Growth Fanapt net sales grew $16.4 M (24%) for nine months ended September 30, 2025, driven by volume increase.
Total Revenue Increased Nine-month total revenues increased $13.3 M to $158.9 M, achieving 9% growth compared to prior year period.
Commercial Activity Boost Q3 Fanapt prescriptions grew 35%, supporting 31% net product sales increase versus the third quarter of 2024.
Pipeline Investment Rises Nine-month R&D expenses increased $25.7 M to $80.3 M, funding multiple development programs like Imsidolimab.
Risk Factors
Net Loss Significantly Widens Nine-month net loss expanded to $(79.3) M from $(14.0) M last year due to higher operating expenses.
Cash Reserves Are Depleted Total cash, equivalents, and securities decreased $80.9 M to $293.8 M since December 31, 2024 reporting date.
SG&A Spending Spikes Selling, general, administrative costs jumped 63% to $175.0 M for the nine months, impacting profitability.
Ongoing Patent Litigation HETLIOZ patent infringement lawsuits against Teva and Apotex remain pending, with trial scheduled for August 2026.
Outlook
Tradipitant Regulatory Review FDA re-review of tradipitant motion sickness NDA is set for December 30, 2025 target action date.
HETLIOZ Jet Lag Review FDA expedited re-review for HETLIOZ jet lag disorder sNDA is scheduled for completion by January 7, 2026.
Bysanti Approval Target Bysanti NDA for bipolar I disorder has a PDUFA target action date set for February 21, 2026.
Future Capital Requirements Management notes potential need for additional debt or equity financing to fund future operations and development.
Peer Comparison
Revenue (TTM)
$212.07M
ALEC$69.05M
$49.97M
Gross Margin (Latest Quarter)
ALEC100.0%
ACIU100.0%
94.7%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| CAPR | $1.06B | -12.9 | -71.0% | 11.5% |
| CTNM | $474.52M | -6.1 | -32.3% | 2.9% |
| VNDA | $473.36M | -5.6 | -16.8% | 1.0% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
1.9%
Moderate Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention
Research & Insights
Next earnings:Feb 12, 2026
EPS:-$2.18
|Revenue:-
Reports
All Years
Form 10-Q - Q3 2025
Period End: Sep 30, 2025|Filed: Oct 30, 2025|Revenue: $56.26M+18.1%|EPS: $-0.38+315.8%MeetForm 10-Q - Q2 2025
Period End: Jun 30, 2025|Filed: Jul 31, 2025|Revenue: $52.59M+4.2%|EPS: $-0.46+492.8%MissForm 10-Q - Q1 2025
Period End: Mar 31, 2025|Filed: May 8, 2025|Revenue: $50.04M+5.4%|EPS: $-0.50+596.4%BeatForm 10-K - FY 2024
Period End: Dec 31, 2024|Filed: Feb 14, 2025|Revenue: $198.77M+3.2%|EPS: $-0.32-832.3%BeatForm 10-Q - Q3 2024
Period End: Sep 30, 2024|Filed: Nov 7, 2024|Revenue: $47.65M+22.8%|EPS: $-0.09-3908.3%MeetForm 10-Q - Q2 2024
Period End: Jun 30, 2024|Filed: Aug 1, 2024|Revenue: $50.47M+9.6%|EPS: $-0.08-392.8%BeatForm 10-Q - Q1 2024
Period End: Mar 31, 2024|Filed: May 9, 2024|Revenue: $47.46M-24.1%|EPS: $-0.07-226.0%MissForm 10-K - FY 2023
Period End: Dec 31, 2023|Filed: Feb 8, 2024|Revenue: $192.64M-24.3%|EPS: $0.04-60.3%Beat