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SEC Filings


8-K
VANDA PHARMACEUTICALS INC. filed this Form 8-K on 11/07/2018
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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     Nine Months Ended  
     September 30
2018
    September 30
2017
    September 30
2018
    September 30
2017
 

Net income (loss)

   $ 7,171     $ (4,550   $ 14,848     $ (13,729

Adjustments:

        

Stock-based compensation

     2,872       2,771       8,744       7,683  

Intangible asset amortization

     397       432       1,147       1,318  
  

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP Net income (loss)

   $ 10,440     $ (1,347   $ 24,739     $ (4,728
  

 

 

   

 

 

   

 

 

   

 

 

 

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

   $ 0.20     $ (0.03   $ 0.49     $ (0.11

Weighted average shares outstanding, basic

     52,389,012       44,885,287       50,321,640       44,669,201  

Operating expenses

   $ 42,902     $ 46,259     $ 127,489     $ 135,560  

Adjustments:

        

Cost of goods sold excluding amortization

     (5,068     (4,525     (14,841     (13,057

Stock-based compensation

     (2,872     (2,771     (8,744     (7,683

Intangible asset amortization

     (397     (432     (1,147     (1,318
  

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP Operating expenses excluding Cost of goods sold

   $ 34,565     $ 38,531     $ 102,757     $ 113,502  
  

 

 

   

 

 

   

 

 

   

 

 

 

Research and development

   $ 11,390     $ 10,178     $ 30,672     $ 28,393  

Adjustment:

        

Stock-based compensation

     (326     (264     (963     (958
  

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP Research and development

   $ 11,064     $ 9,914     $ 29,709     $ 27,435  
  

 

 

   

 

 

   

 

 

   

 

 

 

Selling, general and administrative

   $ 26,047     $ 31,124     $ 80,829     $ 92,792  

Adjustment:

        

Stock-based compensation

     (2,546     (2,507     (7,781     (6,725
  

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP Selling, general and administrative

   $ 23,501     $ 28,617     $ 73,048     $ 86,067  
  

 

 

   

 

 

   

 

 

   

 

 

 

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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