#United States #Washington #Vanda Pharmaceuticals #Fanapt #Hetlioz

Vanda Pharmaceuticals Reports Impressive 2024 Financial Results

Vanda Pharmaceuticals Inc. has unveiled its financial performance for the fourth quarter and complete year of 2024, marking a notable increase in revenues and product sales across its portfolio. The company reported total revenues of $53.2 million in Q4 2024, reflecting a 17% increase compared to the same quarter in 2023. Notably, the net product sales of Fanapt® reached $26.6 million, up 18% from Q4 2023.

Key Revenue Highlights

For the entire year of 2024, Vanda's total revenues amounted to $198.8 million, growing 3% from $192.6 million in 2023. The primary driver was the performance of its leading products:

• - Fanapt®: Achieved $94.3 million in sales, a 4% increase year-over-year.
• - HETLIOZ®: Sales dipped 23% to $76.7 million due to heightened competition from generics.
• - PONVORY®: Newly integrated into the portfolio following its acquisition, this product generated $27.8 million in its first full year.

While Vanda experienced net losses of $4.9 million in Q4 and $18.9 million for the full year, this marks a shift from the prior year's net income of $2.5 million. Vanda’s cash reserves remain robust at $374.6 million as of December 31, 2024.

Operational Achievements and Future Plans

In Q4, Vanda accelerated its growth trajectory with the commercial launch of Fanapt® for treating acute bipolar disorder. Patient initiatives for this product resulted in over a 160% increase in new prescriptions compared to last year. Vanda has also embarked on a phase III program for the long-acting injectable formulation of Fanapt®.

Another key product, Bysanti™, is progressing towards a New Drug Application (NDA) submission expected in early 2025 for bipolar I disorder and schizophrenia treatment. Additionally, Vanda is expecting substantial growth in its psychiatry segment, with revenue targets exceeding $750 million by 2030.

The company is committed to expanding its product lineup with new therapies under development, including:
1. HETLIOZ® for pediatric insomnia and delayed sleep phase disorder.
2. Tradipitant, with a focus on motion sickness and gastroparesis, showing promising indicators for FDA approval.
3. Imsidolimab, targeting generalized pustular psoriasis, anticipated to file its Biologics License Application (BLA) in 2025.

Industry Response and Investor Outlook

Vanda's CEO, Dr. Mihael H. Polymeropoulos, expressed optimism about the company's future, emphasizing the potential for sustained growth through their innovative offerings and strategic expansions. The recent quarterly earnings call has garnered attention from investors, showcasing the firm’s commitment to combating mental health challenges and improving patient outcomes.

Vanda’s strategic pipeline approaches, as indicated by their regulatory filings, aim not only to enhance the existing product portfolio but also to explore new markets, such as Europe and Japan.

In summary, Vanda Pharmaceuticals stands poised for a promising 2025, with set revenue expectations between $210 million and $250 million. The firm’s focus on innovation, coupled with strong product performance, positions it strongly to meet its ambitious targets and aid in addressing significant unmet medical needs.

For ongoing updates regarding Vanda Pharmaceuticals’ developments and quarterly reports, interested parties are encouraged to monitor their official website and investor communications.