BlackRock (NASDAQ: VNDA) discloses 5.5% Vanda Pharmaceuticals stake

Rhea-AI Filing Summary

BlackRock Portfolio Management LLC has filed an amended Schedule 13G reporting a beneficial ownership stake in Vanda Pharmaceuticals Inc. common stock. The firm reports beneficial ownership of 3,251,563 shares, representing 5.5% of the class as of the event date 12/31/2025. BlackRock Portfolio Management LLC has sole voting power over 2,796,972 shares and sole dispositive power over 3,251,563 shares, with no shared voting or dispositive power.

The filing explains that the holdings are aggregated from certain BlackRock business units and are held in the ordinary course of business. It also certifies that the securities were not acquired for the purpose of changing or influencing control of Vanda Pharmaceuticals Inc., indicating a passive investment position under the Schedule 13G framework.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Vanda Pharmaceuticals Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

921659108

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 921659108

1

Names of Reporting Persons

BlackRock Portfolio Management LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,796,972.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,251,563.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,251,563.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.5 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Vanda Pharmaceuticals Inc.
(b)	Address of issuer's principal executive offices: 2200 PENNSYLVANIA AVE NW, SUITE 300E WASHINGTON DC 20037
Item 2.
(a)	Name of person filing: BlackRock Portfolio Management LLC In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock Portfolio Management LLC, 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 921659108
Item 4.	Ownership
(a)	Amount beneficially owned: 3251563
(b)	Percent of class: 5.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2796972
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 3251563
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of Vanda Pharmaceuticals Inc.. No one person's interest in the common stock of Vanda Pharmaceuticals Inc. is more than five percent of the total outstanding common shares.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BlackRock Portfolio Management LLC

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	01/21/2026

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7

FAQ

What percentage of Vanda Pharmaceuticals Inc. (VNDA) does BlackRock Portfolio Management LLC report owning?

BlackRock Portfolio Management LLC reports beneficial ownership of 5.5% of the outstanding common stock of Vanda Pharmaceuticals Inc. according to the Schedule 13G/A.

How many Vanda Pharmaceuticals (VNDA) shares are beneficially owned by BlackRock Portfolio Management LLC?

The filing states that BlackRock Portfolio Management LLC beneficially owns 3,251,563 shares of Vanda Pharmaceuticals Inc. common stock.

What voting and dispositive powers does BlackRock Portfolio Management LLC have over VNDA shares?

BlackRock Portfolio Management LLC has sole voting power over 2,796,972 shares and sole dispositive power over 3,251,563 shares, with no shared voting or dispositive power reported.

Is BlackRock Portfolio Management LLC’s stake in Vanda Pharmaceuticals (VNDA) a passive investment?

Yes. The certification states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Vanda Pharmaceuticals Inc.

What is the event date referenced in BlackRock Portfolio Management LLC’s Schedule 13G/A for VNDA?

The date of the event requiring the filing is listed as 12/31/2025.

Do other persons have rights to dividends or sale proceeds from the VNDA shares held by BlackRock Portfolio Management LLC?

The filing notes that various persons have rights to receive dividends or sale proceeds from the Vanda Pharmaceuticals Inc. common stock, but no single person’s interest exceeds five percent of the total outstanding common shares.

Who signed the Schedule 13G/A related to Vanda Pharmaceuticals Inc. (VNDA)?

The statement was signed by Spencer Fleming, identified as a Managing Director, on 01/21/2026.