Total operating expenses for the first quarter of 2013 were $12.3 million, compared to $16.5 million for the first quarter of 2012. The primary driver of the lower expenses in the first quarter of 2013 was the completion of the tasimelteon Non-24 and Major Depressive Disorder efficacy studies.
Vanda recorded a net loss of $4.2 million for the first quarter of 2013, compared to a net loss of $8.0 million for the same period in 2012. Diluted net loss per share for the first quarter of 2013 was $0.15, compared to a diluted net loss per share of $0.28 for the first quarter of 2012.
Cash decreased by $9.5 million in the first quarter of 2013, compared to decreases of $10.6 million in the first quarter of 2012 and $14.0 million in the fourth quarter of 2012. Vanda's Cash as of March 31, 2013 totaled $110.9 million.First Quarter 2013 Key Financial Figures1Three Months EndedMarch 31December 31(in thousands, except per share amounts) 20132012 Change ($)Change (%)Total revenues
482%Research & development expenses
7,96010,617(2,657)(25%)General & administrative expenses
3,9583,22573323%Non-cash stock-based compensation2
(4,173)(6,369)2,19634%Diluted net loss per share
.0835% Select Cash Flow Data1 Three Months EndedMarch 31March 31(in thousands)20132012Net cash provided by (used in) Operating activities
(8,690) Investing activities
(193)- Select Balance Sheet Data1 March 31December 31March 31(in thousands)201320122012Total cash and marketable securities$
|SOURCE Vanda Pharmaceuticals Inc.|
Copyright©2012 PR Newswire.
All rights reserved