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Vanda Pharmaceuticals Reports Third Quarter 2013 Results
Date:11/7/2013

WASHINGTON, Nov. 7, 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 third quarter ended September 30, 2013.

Key Highlights:

  • On July 29, 2013 Vanda announced that the U.S. Food and Drug Administration (FDA) accepted the filing of and granted priority review classification to Vanda's New Drug Application (NDA) for tasimelteon, a circadian regulator for the treatment of Non-24-Hour Disorder (Non-24) in the totally blind.
  • The FDA has scheduled a Peripheral and Central Nervous System Drugs Advisory Committee Meeting on November 14, 2013, for the review of Vanda's NDA for tasimelteon, proposed trade name HETLIOZ™, for the treatment of Non-24.
  • The FDA determined the action target date under the Prescription Drug User Fee Act (PDUFA-V) for tasimelteon to be January 31, 2014. 
  • On August 7, 2013 Vanda completed the public offering of 4.68 million shares of common stock resulting in net proceeds of $48.6 million. 
  • Vanda recorded third quarter 2013 revenue of $8.7 million including royalties of $2.0 million.  Fanapt® prescriptions, as reported by IMS, were approximately 43,600 for the third quarter of 2013.  This represents a 13% increase over third quarter 2012 prescriptions and a 5% increase over second quarter 2013 prescriptions.
  • THIRD QUARTER 2013 REPORTED RESULTSTotal revenues for the third quarter of 2013 were $8.7 million, compared to $8.3 million for the same period in 2012.  Third quarter 2013 revenues included $2.0 million in Fanapt® royalties received from Novartis as compared to royalties
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    SOURCE Vanda Pharmaceuticals Inc.
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