Navigation Links
Vanda Pharmaceuticals, Inc. Sued by Investor

SAN DIEGO and WASHINGTON, July 3, 2013 /PRNewswire/ -- Shareholder rights attorneys at Robbins Arroyo LLP announce that a shareholder of Vanda Pharmaceuticals, Inc. (NasdaqGM: VNDA) securities has filed a complaint in the U.S. District Court for the District of Columbia against the company and certain of its officers and directors.  The complaint alleges that defendants violated the Securities Exchange Act of 1934 between December 18, 2012 and June 18, 2013 (the "Class Period").


Vanda is a biopharmaceutical company focused on the development and commercialization of products for the treatment of central nervous system disorders.  The company's product portfolio includes tasimelteon, which is currently in clinical development for "Non-24," a neurological sleep disorder that affects proportionately more totally blind individuals than sighted.

Vanda Is Accused of Making False and Misleading Statements Regarding Results of Its Clinical Trial for Tasimelteon

Throughout the Class Period, defendants made false and/or misleading statements and failed to disclose material adverse facts about the results of the clinical trial for tasimelteon.  Specifically, defendants made false and/or misleading statements and failed to disclose that: (i) the company made multiple changes in the primary endpoint over the course of the trials; (ii) the company eliminated nighttime total sleep as the primary endpoint in its studies as there was no discernible difference in efficacy and safety in nighttime total sleep between those patients deemed to have Non-24 and those patients with a normal sleep cycle; and (iii) the company made a change in a new primary endpoint just one month before study results were published that has allegedly never been used before in sleep-drug clinical trials, nor was it endorsed by the U.S. Federal Drug Administration.

Vanda Stock Price Falls Dramatically on Question of Validity of Clinic Trial for Tasimelteon

On June 19, 2013, The Street published an article casting doubt on the quality and efficacy of Vanda's clinical trial procedure and test data for tasimelteon.  In addition to the issues listed above, the article states that Vanda was forced to cut patient enrollment in the clinical trials in half because an insufficient number of totally blind patients with Non-24 could not be identified, and that ultimately less than 5% of the patients enrolled in the trials suffered from Non-24 according to the "textbook definition" of the disease.

On this news, Vanda shares declined $2.41 per share or more than 22%, to close at $8.51 per share on June 19, 2013.

If you invested in Vanda and would like to discuss your shareholder rights, please contact attorney Darnell R. Donahue at (800) 350-6003,, or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law.  The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.  For more information, please go to

Press release link:

Attorney Advertising. Past results do not guarantee a similar outcome.  

Darnell R. Donahue
Robbins Arroyo LLP
(619) 525-3990 or Toll Free at (800) 350-6003

SOURCE Robbins Arroyo LLP
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Vanda Pharmaceuticals Reports First Quarter 2012 Results
2. Vanda Pharmaceuticals Inc. Presents Scientific Posters at Society for Research on Biological Rhythms (SRBR) Annual Meeting
3. Vanda Pharmaceuticals to Present at the Jefferies 2012 Global Healthcare Conference
4. Vanda Pharmaceuticals Announces Date of Annual Meeting of Stockholders
5. Michael Cola Joins the Board of Directors of Vanda Pharmaceuticals
6. Vanda Pharmaceuticals to Present at the JMP Securities Healthcare Conference
7. Vanda Pharmaceuticals to Announce Second Quarter 2012 Financial Results on August 2, 2012
8. Vanda Pharmaceuticals to Participate in Two September Healthcare Investor Conferences
9. Vanda Pharmaceuticals Reports Third Quarter 2012 Results
10. Vanda Pharmaceuticals to Announce Fourth Quarter 2012 Financial Results on February 12, 2013
11. Vanda Announces Positive Results in the Second Phase III Study (RESET) of Tasimelteon for the Treatment of Non-24-Hour Disorder
Post Your Comments:
(Date:6/26/2016)... 2016 One of Australia,s successful ... of a new biotechnology company, Noxopharm Limited [ABN 50 608 966 ... and to list on the ASX. Noxopharm is a ... enter a Phase 1 clinical study later this year. ... of the biggest problems facing cancer patients - the ability of ...
(Date:6/26/2016)... 27, 2016 Jazz Pharmaceuticals plc (Nasdaq: ... the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ... Pharmaceuticals, Inc. ("Celator"; Nasdaq: CPXX ) expired ... Time). As previously announced on May 31, ... merger agreement under which Jazz Pharmaceuticals has commenced a ...
(Date:6/26/2016)... , June 27, 2016  VMS Rehab Systems, ... Board will take whatever measures required to build a ... stock which is currently listed on the OTC Markets-pink ... Company Chairman and CEO, "We are seeing an anomaly ... to understand, not only by the Company, but shareholders ...
Breaking Medicine Technology:
(Date:6/27/2016)... ... 2016 , ... The OSHA Training Center at Chabot-Las ... headquartered in Northern California, has issued an important reminder to employers to prevent ... Employers with workers exposed to high temperatures should establish a complete heat illness ...
(Date:6/27/2016)... ... June 27, 2016 , ... "FCPX editors can now reveal ... Final Cut Pro X," said Christina Austin - CEO of Pixel Film Studios. ... Cut Pro X users can now reveal the media of their split screens ...
(Date:6/27/2016)... ... ... TherapySites, the leading website and online marketing ... Association. This new relationship allows TherapySites to continue to extend their online ... and promotional offers. , "TCA is extremely excited about this new partnership, as ...
(Date:6/27/2016)... ... June 27, 2016 , ... ... its strategic partnership with Connance, a healthcare industry leader providing predictive analytics ... proprietary technology combine to provide health systems, hospitals and ambulatory surgical centers ...
(Date:6/27/2016)... ... June 27, 2016 , ... A revolution is ... emergency ambulance transport experience for the millions of people who require these medical ... the taxi industry through the use of technology. Now, SmartEMS has put forth ...
Breaking Medicine News(10 mins):