Welcome to our dedicated page for Vanda Pharma news (Ticker: VNDA), a resource for investors and traders seeking the latest updates and insights on Vanda Pharma stock.
Vanda Pharmaceuticals Inc. (VNDA) is a biopharmaceutical innovator developing therapies for complex medical conditions with limited treatment options. This news hub provides investors and healthcare professionals with essential updates on the company's clinical advancements, regulatory milestones, and strategic initiatives.
Access real-time information about VNDA's sleep-wake disorder treatments, psychiatric therapies, and neurology pipeline. Our curated collection includes FDA decision updates, clinical trial results, financial earnings reports, and partnership announcements – all critical for understanding the company's market position.
Bookmark this page for streamlined tracking of Vanda's progress in antisense oligonucleotide research and commercialization efforts. Regular updates ensure you stay informed about HETLIOZ developments, Fanapt market performance, and emerging therapies in the company's clinical pipeline.
Vanda Pharmaceuticals announced the completion of the transfer of the U.S. New Drug Application and Investigational New Drug Applications for PONVORY® (ponesimod) from a Johnson & Johnson Company on May 30, 2024. This milestone enables Vanda to fully commercialize PONVORY® in the U.S. and commence clinical development programs. PONVORY® is approved by the FDA and Health Canada for treating adults with relapsing forms of multiple sclerosis, including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease (RMS). Vanda acquired U.S. and Canadian rights to PONVORY® on December 7, 2023. In preparation for a Q3 2024 commercial launch, Vanda is creating a specialty sales force, a prescriber awareness program, and a comprehensive marketing strategy.
Vanda Pharmaceuticals has announced its participation in SLEEP 2024, a conference set to take place in Houston, TX from June 1-5, 2024. The company will present four research studies on June 4, 2024, conducted by Dr. Sandra Paulina Smieszek, Head of Genetics. The presentations will cover drug and CRISPR/Cas9 screening of HCN channels, the impact of melanopsin crispants in zebrafish on sleep latency, genetic variants linked to dim light melatonin onset in delayed sleep-wake phase disorder (DSWPD) patients, and genetic variants associated with total sleep time (TST) and latency to persistent sleep (LPS) in insomnia patients based on whole genome sequencing.
On May 24, 2024, Vanda Pharmaceuticals' Board of Directors announced its unanimous decision to reject Future Pak, 's revised unsolicited takeover proposal. The offer included a cash price of $7.25 to $7.75 per share plus Contingent Value Rights (CVRs). The Board, advised by independent financial and legal experts, concluded that the proposal undervalues Vanda, poses significant risks, and is not in shareholders' best interests. Key considerations included Vanda's clinical development pipeline, robust revenue, strong cash position, and the speculative nature of the CVRs. Vanda remains confident in its potential for long-term growth and value creation.
Vanda Pharmaceuticals announced positive results from the second Phase III study of tradipitant for motion sickness. Conducted in real-world conditions, the study involved 316 participants on boat trips across the U.S. coast between September 2023 and April 2024. Tradipitant significantly reduced vomiting, with 10.4% and 18.3% of participants experiencing vomiting on 170 mg and 85 mg doses, respectively, compared to 37.7% on placebo. Additionally, 13.3% of participants reported severe nausea and vomiting on tradipitant versus 33% on placebo. Vanda plans to submit a New Drug Application (NDA) for tradipitant in Q4 2024.
Vanda Pharmaceuticals reported their first quarter 2024 financial results with revenues of $47.5 million, a 5% increase from the previous quarter. The company achieved various milestones, including FDA approval for Fanapt® in bipolar I disorder, with commercial launch expected in Q3 2024. Additionally, they anticipate submitting the NDA for Milsaperidone in schizophrenia and bipolar disorder in early 2025. Vanda also expects to launch PONVORY® for multiple sclerosis in Q3 2024 and has ongoing clinical trials for Tradipitant for various conditions. Financially, total net product sales decreased by 24% compared to the first quarter of 2023. Net loss was $4.1 million, and cash reserves increased to $394.1 million. Despite challenges, Vanda remains optimistic about future growth.
Vanda Pharmaceuticals has received a revised unsolicited takeover proposal from Future Pak offering $7.25 to $7.75 per share in cash plus Contingent Value Rights. Vanda's Board of Directors will review the proposal to determine the best course of action. Shareholders do not need to take any action at this time.
Future Pak has increased its offer for Vanda Pharmaceuticals, including Contingent Value Rights (CVRs) along with $7.25 to $7.75 per share in cash. The increased offer could provide up to $260 million in potential value, translating to $11.62 to $12.12 per share, a 187% to 199% premium to Vanda's unaffected share price. Despite Vanda's actions to limit shareholder influence, Future Pak remains committed to the transaction.
Vanda Pharmaceuticals will announce its first quarter 2024 financial results on May 8, 2024, followed by a conference call where management will discuss the results and corporate activities. Investors can participate by dialing in or accessing the webcast.
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