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Vanda Pharmaceuticals Reports Second Quarter 2014 Results
Date:8/7/2014

WASHINGTON, Aug. 7, 2014 /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 second quarter ended June 30, 2014.

"We are encouraged by the early positive reception of HETLIOZ by patients, physicians and payors. We look forward to more patients benefiting from HETLIOZ in the coming months and years," said Mihael Polymeropoulos MD, President and CEO of Vanda Pharmaceuticals.

Key Highlights:

  • As of August 6, 2014, over 420 new patient prescriptions have been written for  HETLIOZ®(tasimelteon) in the U.S.
  • In June 2014, Vanda announced that the European Medicines Agency (EMA) accepted for evaluation the Marketing Authorization Application for oral HETLIOZ® capsules for the treatment of Non-24-Hour Sleep-Wake Disorder (Non-24).
  • In July 2014, the U.S. Patent and Trademark Office (USPTO) issued a new method of use patent for HETLIOZ®  in the treatment of Non-24.
  • SECOND QUARTER 2014 REPORTED RESULTSTotal revenues for the second quarter of 2014 were $10.9 million, compared to $9.1 million for the first quarter of 2014 and $8.3 million for the second quarter of 2013.  Net product revenues related to U.S. sales of HETLIOZ® in the second quarter of 2014 were $1.6 million.Total operating expenses for the second quarter of 2014 were $32.5 million, compared to $35.7 million for the first quarter of 2014 and $11.7 million for the second quarter of 2013.  Vanda recorded a net loss of $21.6 million for the second quarter of 2014, compared to a net loss of $26.5 million for the first quarter of 2014 and $3.4 million
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    SOURCE Vanda Pharmaceuticals Inc.
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