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Vanda Pharmaceuticals Reports Fourth Quarter 2012 and Full Year 2012 Results
Date:2/12/2013

WASHINGTON, Feb. 12, 2013 /PRNewswire/ -- Vanda Pharmaceuticals Inc. (Vanda) (NASDAQ: VNDA), a biopharmaceutical company focused on the development and commercialization of products for the treatment of central nervous system disorders, today announced financial and operational results for the fourth quarter and full year ended December 31, 2012.

Key Highlights:

  • Vanda reported positive SET and RESET Phase III efficacy studies for tasimelteon in the treatment of patients with Non-24-Hour Disorder (Non-24).  Study results demonstrate tasimelteon is a unique circadian regulator that resets the master body clock and improves clinical symptoms in patients with Non-24.
  • The tasimelteon Non-24 program continues towards the goal of a projected mid-2013 New Drug Application (NDA) filing with the U.S. Food and Drug Administration (FDA). 
  • All tasimelteon activities have been discontinued related to the Major Depressive Disorder (MDD) indication.  In January 2013, Vanda announced that the MAGELLAN Phase IIb/III clinical study did not meet its primary endpoint.
  • Vanda has formally requested a re-examination of the negative opinion issued by the European Medicines Agency (EMA) recommending against approval of Fanaptum™ (oral iloperidone tablets) in the European Union. 
  • Vanda recorded full year 2012 revenue of $32.7 million including Fanapt® royalties of $5.9 million.  Fanapt® prescriptions, as reported by IMS, were approximately 38,200 for the fourth quarter of 2012.  This represents a 1% decrease versus third quarter 2012 prescriptions and a 13% increase over fourth quarter 2011 prescriptions.

  • FULL YEAR 2012 REPORTED RESULTSTotal revenues for the full year 2012 were $32.7 million, compared to $31.3 million for 2011. 
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    SOURCE Vanda Pharmaceuticals Inc.
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