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SEC Filings

VANDA PHARMACEUTICALS INC. filed this Form 8-K on 11/07/2018
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VTR-297 (histone deacetylase (HDAC) inhibitor)



The Phase I study (1101) of VTR-297 in patients with hematologic malignancies randomized its first patient in October 2018.

Cash, cash equivalents and marketable securities (Cash) were $240.6 million as of September 30, 2018. During the third quarter of 2018, Cash increased by $9.4 million.

Non-GAAP Financial Results

For the third quarter of 2018, Non-GAAP net income was $10.4 million, compared to Non-GAAP net loss of $1.3 million for the third quarter of 2017.

Vanda provides Non-GAAP financial information, which it believes can enhance an overall understanding of its financial performance when considered together with GAAP figures. Refer to the sections of this press release entitled “Non-GAAP Financial Information” and “Reconciliation of GAAP to Non-GAAP Financial Information.”

2018 Financial Guidance

Vanda reiterates its prior 2018 net product sales guidance and provides an update to Non-GAAP Operating Expenses, Intangible Asset Amortization and Year-End 2018 Cash guidance and expects to achieve the following financial objectives in 2018:



Full Year 2018

Financial Objectives


Full Year 2018



Combined net product sales from both HETLIOZ®

and Fanapt®

   $180 to $200 million
HETLIOZ® net product sales    $108 to $118 million
Fanapt® net product sales    $72 to $82 million

Non-GAAP Operating expenses, excluding

Cost of goods sold


$140 to $150 million

as compared to prior guidance of $153 to $163 million

Intangible asset amortization   

$1.5 million

as compared to prior guidance of $1.7 million

Stock-based compensation    $11 to $15 million
Year-end 2018 Cash   

$240 to $250 million

as compared to prior guidance of $225 to $235 million

Conference Call

Vanda has scheduled a conference call for today, Wednesday, November 7, 2018, at 4:30 PM ET. During the call, Vanda’s management will discuss the third quarter 2018 financial results and other corporate activities. Investors can call 1-888-771-4371 (domestic) or 1-847-585-4405


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