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Vanda Pharmaceuticals Reports Third Quarter 2012 Results
Date:11/7/2012

WASHINGTON, Nov. 7, 2012 /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 third quarter and nine months ended September 30, 2012.

Key Highlights:

  • The tasimelteon Non-24-Hour Disorder (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). 
  • The SET and RESET Phase III efficacy studies for Non-24 are both fully enrolled.  Vanda expects to report top-line results for the SET study by the end of 2012 and to report top-line results for the RESET study in the first quarter of 2013.
  • The tasimelteon MAGELLAN Phase IIb/III efficacy study for Major Depressive Disorder (MDD) is fully enrolled and Vanda expects to report top-line results in the first quarter of 2013.
  • Vanda recorded third quarter 2012 revenue of $8.3 million including Fanapt® royalties of $1.5 million.  Fanapt® prescriptions, as reported by IMS, were approximately 38,500 for the third quarter of 2012.  This represents a 3% increase over second quarter 2012 prescriptions and a 15% increase over third quarter 2011 prescriptions.
  • THIRD QUARTER 2012 REPORTED RESULTS
    Total revenues for the third quarter of 2012 were $8.3 million, compared to $8.0 million for the same period in 2011.  Third quarter 2012 revenues included $1.5 million in Fanapt® royalties received from Novartis as compared to royalties of $1.2 million for the third quarter of 2011.Total operating expenses for the third quarter of 2012 were $13.7 million, compared to $11.3 million for the third quarter of 2011.  The higher expen
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    SOURCE Vanda Pharmaceuticals Inc.
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