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SEC Filings


8-K
VANDA PHARMACEUTICALS INC. filed this Form 8-K on 08/01/2018
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VANDA PHARMACEUTICALS INC.

Reconciliation of GAAP to Non-GAAP Financial Information

(in thousands, except for share and per share amounts)

(unaudited)

 

     Three Months Ended     Six Months Ended  
     June 30     June 30     June 30     June 30  
     2018     2017     2018     2017  

Net income (loss)

   $ 4,611     $ (1,534   $ 7,677     $ (9,179

Adjustments:

        

Stock-based compensation

     2,721       2,656       5,872       4,912  

Intangible asset amortization

     398       432       750       886  
  

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP Net income (loss)

   $ 7,730     $ 1,554     $ 14,299     $ (3,381
  

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP Net income (loss) per share, basic

   $ 0.15     $ 0.03     $ 0.29     $ (0.08

Non-GAAP Net income (loss) per share, diluted

   $ 0.14     $ 0.03     $ 0.28     $ (0.08

Weighted average shares outstanding, basic

     52,172,982       44,718,597       49,270,829       44,559,368  

Weighted average shares outstanding, diluted

     53,945,640       44,718,597       51,101,464       44,559,368  

Operating expenses

   $ 43,437     $ 43,980     $ 84,587     $ 89,301  

Adjustments:

        

Cost of goods sold excluding amortization

     (5,213     (4,529     (9,773     (8,532

Stock-based compensation

     (2,721     (2,656     (5,872     (4,912

Intangible asset amortization

     (398     (432     (750     (886
  

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP Operating expenses excluding Cost of goods sold

   $ 35,105     $ 36,363     $ 68,192     $ 74,971  
  

 

 

   

 

 

   

 

 

   

 

 

 

Research and development

   $ 9,866     $ 7,648     $ 19,282     $ 18,215  

Adjustment:

        

Stock-based compensation

     (316     (285     (637     (694
  

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP Research and development

   $ 9,550     $ 7,363     $ 18,645     $ 17,521  
  

 

 

   

 

 

   

 

 

   

 

 

 

Selling, general and administrative

   $ 27,960     $ 31,371     $ 54,782     $ 61,668  

Adjustment:

        

Stock-based compensation

     (2,405     (2,371     (5,235     (4,218
  

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP Selling, general and administrative

   $ 25,555     $ 29,000     $ 49,547     $ 57,450  
  

 

 

   

 

 

   

 

 

   

 

 

 

COMPANY CONTACT:

Jim Kelly

Executive Vice President & Chief Financial Officer

Vanda Pharmaceuticals Inc.

(202) 734-3428

jim.kelly@vandapharma.com

 

SOURCE Vanda Pharmaceuticals Inc.

 

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