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8-K
VANDA PHARMACEUTICALS INC. filed this Form 8-K on 08/01/2018
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EX-99.1

Exhibit 99.1

 

LOGO

Vanda Pharmaceuticals Reports Second Quarter 2018 Financial Results

 

    Total net product sales were $47.4 million in the second quarter of 2018
    Hetlioz® net product sales grew to $28.0 million in the second quarter of 2018
    Fanapt® net product sales grew to $19.3 million in the second quarter of 2018
    Vanda reiterates 2018 net product sales guidance of $180 million to $200 million

WASHINGTON – August 1, 2018 – Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA) today announced financial and operational results for the second quarter ended June 30, 2018.

“We are excited with the year to date HETLIOZ sales performance, which demonstrates continued strength, and our HETLIOZ life cycle management program, which positions the product well for additional future growth,” said Mihael H. Polymeropoulos, M.D., Vanda’s President and CEO. “We are focused on our upcoming clinical milestones from the tradipitant gastroparesis study and the HETLIOZ Smith-Magenis Syndrome study.”

Key Highlights:

 

    Total net product sales from HETLIOZ® and Fanapt® were $47.4 million during the second quarter of 2018, a 9% increase compared to $43.6 million in the first quarter of 2018 and a 13% increase compared to $42.1 million in the second quarter of 2017.

HETLIOZ® (tasimelteon)

 

    HETLIOZ® net product sales were $28.0 million in the second quarter of 2018, a 10% increase compared to $25.4 million in the first quarter of 2018 and a 25% increase compared to $22.5 million in the second quarter of 2017.

Fanapt® (iloperidone)

 

    Fanapt® net product sales were $19.3 million in the second quarter of 2018, a 6% increase compared to $18.2 million in the first quarter of 2018 and a 1% decrease compared to $19.5 million in the second quarter of 2017.

Research and Development

HETLIOZ®

    Results from the JET study, a 3-night transatlantic Phase II study of the effects of tasimelteon on jet lag disorder showed effectiveness in treating travelers who flew from the US to the UK. Vanda expects to submit a supplemental New Drug Application to the U.S. Food and Drug Administration for HETLIOZ® for the treatment of jet lag disorder by the end of 2018.
    Enrollment in the Smith-Magenis Syndrome clinical study is ongoing. Results are expected by the end of 2018.

Tradipitant

    In June 2018, Vanda initiated EPIONE, a Phase III study of tradipitant for chronic pruritus in atopic dermatitis.

 

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