Vanda Pharmaceuticals Reports Fourth Quarter and Full Year 2024 Financial Results
Vanda Pharmaceuticals (VNDA) reported Q4 2024 total revenues of $53.2 million, up 17% year-over-year, with Fanapt® sales reaching $26.6 million (+18% YoY). Full-year 2024 revenues totaled $198.8 million, a 3% increase from 2023. The company posted a Q4 net loss of $4.9 million and a full-year net loss of $18.9 million.
Looking ahead, Vanda projects 2025 revenue between $210-250 million and targets psychiatry portfolio revenue exceeding $750 million by 2030. Key regulatory milestones include MAA submissions for Fanapt® and HETLIOZ® in Q4 2024, upcoming BysantiTM NDA submission in Q1 2025, and imsidolimab BLA submission planned for 2025.
The company's cash position stands at $374.6 million as of December 31, 2024, representing a decrease of $13.6 million from year-end 2023.
Vanda Pharmaceuticals (VNDA) ha riportato ricavi totali per il quarto trimestre del 2024 pari a 53,2 milioni di dollari, con un aumento del 17% rispetto all'anno precedente, con le vendite di Fanapt® che hanno raggiunto i 26,6 milioni di dollari (+18% rispetto all'anno precedente). I ricavi totali per l'intero anno 2024 ammontano a 198,8 milioni di dollari, con un incremento del 3% rispetto al 2023. L'azienda ha registrato una perdita netta di 4,9 milioni di dollari nel quarto trimestre e una perdita netta di 18,9 milioni di dollari per l'intero anno.
Guardando al futuro, Vanda prevede ricavi per il 2025 compresi tra 210 e 250 milioni di dollari e punta a ricavi del portafoglio psichiatrico superiori a 750 milioni di dollari entro il 2030. Tra i principali traguardi normativi ci sono le domande di autorizzazione all'immissione in commercio (MAA) per Fanapt® e HETLIOZ® nel quarto trimestre del 2024, la prossima domanda NDA per BysantiTM nel primo trimestre del 2025 e la domanda BLA per imsidolimab pianificata per il 2025.
La posizione di liquidità dell'azienda è di 374,6 milioni di dollari al 31 dicembre 2024, con una diminuzione di 13,6 milioni di dollari rispetto alla fine del 2023.
Vanda Pharmaceuticals (VNDA) reportó ingresos totales de $53.2 millones en el cuarto trimestre de 2024, un aumento del 17% interanual, con ventas de Fanapt® alcanzando $26.6 millones (+18% interanual). Los ingresos totales del año completo 2024 sumaron $198.8 millones, un incremento del 3% con respecto a 2023. La compañía reportó una pérdida neta de $4.9 millones en el cuarto trimestre y una pérdida neta de $18.9 millones en el año completo.
De cara al futuro, Vanda proyecta ingresos para 2025 entre $210 y $250 millones y tiene como objetivo que los ingresos del portafolio de psiquiatría superen los $750 millones para 2030. Los hitos regulatorios clave incluyen las presentaciones de MAA para Fanapt® y HETLIOZ® en el cuarto trimestre de 2024, la próxima presentación NDA de BysantiTM en el primer trimestre de 2025 y la presentación BLA de imsidolimab planificada para 2025.
La posición de efectivo de la compañía se sitúa en $374.6 millones al 31 de diciembre de 2024, lo que representa una disminución de $13.6 millones con respecto a finales de 2023.
반다 제약 (VNDA)는 2024년 4분기 총 수익이 5320만 달러로 전년 대비 17% 증가했으며, 파나프트® 판매는 2660만 달러에 달해 (+18% 전년 대비) 보고했습니다. 2024년 전체 수익은 1억 9880만 달러로 2023년 대비 3% 증가했습니다. 회사는 4분기에 490만 달러의 순손실을 기록했으며, 연간 순손실은 1890만 달러에 달했습니다.
앞으로 반다는 2025년 수익을 2억 1000만 달러에서 2억 5000만 달러 사이로 예상하고 있으며, 2030년까지 정신과 포트폴리오 수익이 7억 5000만 달러를 초과하는 것을 목표로 하고 있습니다. 주요 규제 이정표로는 2024년 4분기에 파나프트®와 헤틀리오즈®에 대한 MAA 제출, 2025년 1분기에 바이산티TM NDA 제출, 2025년 계획된 임시돌리맙 BLA 제출이 포함됩니다.
회사의 현금 보유액은 2024년 12월 31일 기준으로 3억 7460만 달러로, 2023년 말 대비 1360만 달러 감소했습니다.
Vanda Pharmaceuticals (VNDA) a rapporté des revenus totaux de 53,2 millions de dollars pour le quatrième trimestre de 2024, en hausse de 17 % par rapport à l'année précédente, avec des ventes de Fanapt® atteignant 26,6 millions de dollars (+18 % par rapport à l'année précédente). Les revenus totaux pour l'année 2024 se sont élevés à 198,8 millions de dollars, soit une augmentation de 3 % par rapport à 2023. L'entreprise a enregistré une perte nette de 4,9 millions de dollars au quatrième trimestre et une perte nette de 18,9 millions de dollars pour l'année complète.
En regardant vers l'avenir, Vanda prévoit des revenus pour 2025 compris entre 210 et 250 millions de dollars et vise des revenus de son portefeuille en psychiatrie dépassant 750 millions de dollars d'ici 2030. Les étapes réglementaires clés incluent les soumissions de MAA pour Fanapt® et HETLIOZ® au quatrième trimestre 2024, la prochaine soumission NDA pour BysantiTM au premier trimestre 2025 et la soumission BLA pour imsidolimab prévue pour 2025.
La position de liquidités de l'entreprise s'élève à 374,6 millions de dollars au 31 décembre 2024, représentant une diminution de 13,6 millions de dollars par rapport à la fin de 2023.
Vanda Pharmaceuticals (VNDA) berichtete im vierten Quartal 2024 von Gesamterlösen in Höhe von 53,2 Millionen US-Dollar, was einem Anstieg von 17 % im Vergleich zum Vorjahr entspricht, während die Umsätze von Fanapt® 26,6 Millionen US-Dollar erreichten (+18 % im Jahresvergleich). Die Gesamterlöse für das Jahr 2024 beliefen sich auf 198,8 Millionen US-Dollar, was einem Anstieg von 3 % gegenüber 2023 entspricht. Das Unternehmen meldete im vierten Quartal einen Nettoverlust von 4,9 Millionen US-Dollar und einen Nettoverlust für das gesamte Jahr von 18,9 Millionen US-Dollar.
Für die Zukunft projektiert Vanda Einnahmen zwischen 210 und 250 Millionen US-Dollar für 2025 und strebt an, dass die Einnahmen des psychiatrischen Portfolios bis 2030 über 750 Millionen US-Dollar steigen. Zu den wichtigsten regulatorischen Meilensteinen gehören die MAA-Anträge für Fanapt® und HETLIOZ® im vierten Quartal 2024, die bevorstehende NDA-Einreichung für BysantiTM im ersten Quartal 2025 sowie die geplante BLA-Einreichung für imsidolimab im Jahr 2025.
Die Liquiditätsposition des Unternehmens beträgt zum 31. Dezember 2024 374,6 Millionen US-Dollar, was einem Rückgang von 13,6 Millionen US-Dollar im Vergleich zum Jahresende 2023 entspricht.
- Q4 2024 revenue increased 17% YoY to $53.2 million
- Fanapt® sales grew 18% YoY to $26.6 million in Q4
- Full year 2024 revenue up 3% to $198.8 million
- Strong cash position of $374.6 million
- 2025 revenue guidance of $210-250 million
- Targeting $750+ million psychiatry portfolio revenue by 2030
- Q4 2024 net loss of $4.9 million, worse than $2.4 million loss in Q4 2023
- Full year 2024 net loss of $18.9 million vs. net income of $2.5 million in 2023
- HETLIOZ® sales declined 23% YoY due to generic competition
- Cash decreased by $13.6 million during 2024
Insights
Vanda's Q4 results reveal a company in strategic transition, balancing current commercial growth with significant pipeline investments. The
The robust cash position of
The acquisition of imsidolimab from AnaptysBio represents a strategic expansion into inflammatory diseases, complementing the existing neurology/psychiatry focus. This diversification could help offset risks from HETLIOZ generic competition, which drove the
Management's 2030 revenue target of
- Potential label expansions for Fanapt including bipolar disorder
- Development of long-acting injectable formulations addressing treatment compliance
- Bysanti's potential in multiple indications with patent protection into 2040s
- Growing PONVORY franchise in multiple sclerosis
The key near-term catalyst will be the Bysanti NDA submission in Q1 2025, which could significantly expand Vanda's commercial presence in psychiatry. The company's strategy of pursuing multiple indications for core assets while maintaining strong cash reserves positions it well for sustainable long-term growth, despite current profitability challenges.
- Q4 2024 total revenues of
, +$53.2 million 17% compared to Q4 2023 - Q4 2024 Fanapt® net product sales of
, +$26.6 million 18% compared to Q4 2023 - Full year 2024 total revenues of
, +$198.8 million 3% compared to full year 2023 - Full year 2025 revenue expected to grow to
to$210 $250 million - Psychiatry portfolio revenue expected to grow to greater than
in 2030$750 million - Fanapt® MAA for bipolar I disorder and schizophrenia submitted in Q4 2024
- BysantiTM (milsaperidone) NDA for bipolar I disorder and schizophrenia expected to be submitted in Q1 2025
- HETLIOZ® MAA for Smith-Magenis syndrome submitted in Q4 2024
- Tradipitant NDA for motion sickness submitted in Q4 2024
- Imsidolimab BLA in generalized pustular psoriasis expected to be submitted in 2025
"Strong revenue growth for Fanapt is putting us on a significant growth trajectory for 2025 and beyond, supported also by the commercial performance of Hetlioz and Ponvory. The Fanapt long acting injectable program, the NDA for Bysanti for bipolar disorder and schizophrenia along with its development for major depressive disorder have the potential to drive future growth in our psychiatry portfolio for many years to come," said Mihael H. Polymeropoulos, M.D., Vanda's President, CEO and Chairman of the Board. "Tradipitant's NDA for motion sickness was filed with a potential approval this year, while we are pursuing approval in gastroparesis and the development of tradipitant to improve tolerability of GLP-1 analog Wegovy. Our anti-inflammatory portfolio, anchored by Ponvory, was strengthened with the addition of imsidolimab from Anaptys, an IL-36 receptor inhibitor for the treatment of generalized pustular psoriasis. We plan to file a BLA later this year while we are exploring registration in
Financial Highlights
Fourth Quarter of 2024
- Total net product sales from Fanapt®, HETLIOZ® and PONVORY® were
in the fourth quarter of 2024, a$53.2 million 17% increase compared to in the fourth quarter of 2023 and a$45.3 million 12% increase compared to in the third quarter of 2024.$47.7 million - Fanapt® net product sales were
in the fourth quarter of 2024, an$26.6 million 18% increase compared to in the fourth quarter of 2023 and an$22.6 million 11% increase compared to in the third quarter of 2024.$23.9 million - HETLIOZ® net product sales were
in the fourth quarter of 2024, a$20.0 million 5% decrease compared to in the fourth quarter of 2023 and a$21.1 million 12% increase compared to in the third quarter of 2024.$17.9 million - PONVORY® net product sales were
in the fourth quarter of 2024, an increase of$6.5 million 11% compared to in the third quarter of 2024. The acquisition of PONVORY® from Actelion Pharmaceuticals Ltd. (Janssen), a Johnson & Johnson Company, was completed on December 7, 2023.$5.9 million - Net loss was
in the fourth quarter of 2024 compared to net loss of$4.9 million in the fourth quarter of 2023 and net loss of$2.4 million in the third quarter of 2024.$5.3 million - Cash, cash equivalents and marketable securities (Cash) was
as of December 31, 2024, representing a decrease to Cash of$374.6 million compared to September 30, 2024.$1.6 million
Full Year 2024
- Total net product sales from Fanapt®, HETLIOZ® and PONVORY® were
for the full year 2024, a$198.8 million 3% increase compared to for the full year 2023.$192.6 million - Fanapt® net product sales were
for the full year 2024, a$94.3 million 4% increase compared to for the full year 2023.$90.9 million - HETLIOZ® net product sales were
for the full year 2024, a$76.7 million 23% decrease compared to for the full year 2023. The decrease relative to the full year 2023 was the result of continued generic competition in the$100.2 million U.S. - PONVORY® net product sales were
for the full year 2024. The acquisition of PONVORY® from Janssen was completed on December 7, 2023.$27.8 million - Net loss was
for the full year 2024, compared to net income of$18.9 million for the full year 2023.$2.5 million - Cash was
as of December 31, 2024, representing a decrease to Cash of$374.6 million compared to December 31, 2023.$13.6 million
Key Operational Highlights
Fanapt® (iloperidone)
- Fanapt® was approved in the second quarter of 2024 for the acute treatment of bipolar I disorder. Vanda initiated the commercial launch of Fanapt® in this indication in the third quarter of 2024. In the fourth quarter of 2024, as compared to the fourth quarter of 2023, new patient starts, as reflected by new to brand prescriptions (NBRx),1 increased by over
160% and Fanapt® net product sales increased by18% . - Vanda initiated a Phase III program for the long acting injectable (LAI) formulation of Fanapt® in the fourth quarter of 2024.
- Vanda plans to initiate a study of the Fanapt® LAI as a once-a-month injectable for the treatment of hypertension to address both treatment resistance and treatment compliance.
- Vanda submitted a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) in the fourth quarter of 2024 for Fanapt® for bipolar I disorder and schizophrenia.
Bysanti™ (milsaperidone)
- Vanda expects to submit a New Drug Application (NDA) for Bysanti™ to the
U.S. Food and Drug Administration (FDA) for the treatments of acute bipolar I disorder and schizophrenia in the first quarter of 2025. Exclusivity, including pending patent applications, could extend into the 2040s. - Vanda initiated a Phase III clinical study for Bysanti™ as a once-daily adjunctive treatment for major depressive disorder (MDD) in the fourth quarter of 2024. Results are expected in 2026.
HETLIOZ® (tasimelteon)
- Vanda has initiated clinical programs for HETLIOZ® in pediatric insomnia and delayed sleep phase disorder (DSPD) and these programs are ongoing.
- Vanda's MAA for HETLIOZ® and HETLIOZ LQ® for Smith-Magenis Syndrome (SMS) is pending with the EMA.
PONVORY® (ponesimod)
- Vanda initiated the commercial launch of PONVORY® for the treatment of relapsing forms of multiple sclerosis in the third quarter of 2024.
- Investigational New Drug (IND) applications for PONVORY® in the treatments of psoriasis and ulcerative colitis were accepted by the FDA in the fourth quarter of 2024.
Tradipitant
- The NDA for tradipitant for the treatment of motion sickness was submitted to the FDA in the fourth quarter of 2024.
- Vanda initiated a clinical trial to study tradipitant in the prevention of vomiting induced by a GLP-1 analog, Wegovy (semaglutide), in the fourth quarter of 2024.
- Vanda has accepted the opportunity for a hearing with the FDA on the approvability of the NDA for tradipitant for the treatment of symptoms of gastroparesis.
Imsidolimab
- In February 2025, Vanda announced it entered into an exclusive, global license agreement with AnaptysBio, Inc. (Anaptys) for the development and commercialization of imsidolimab (IL-36R antagonist mAb). Vanda expects to initiate and complete the technology transfer activities in 2025 and immediately begin preparing the Biologics License Application (BLA) and MAA for generalized pustular psoriasis (GPP) for the US and EU. The imsidolimab BLA for GPP is expected to be submitted to the FDA in 2025.
Early-Stage Program Highlights
- VQW-765, an alpha-7 nicotinic acetylcholine receptor partial agonist, is currently in clinical development for the treatment of acute performance anxiety in social situations. Vanda expects to initiate a Phase III program in 2025.
- The IND application for VCA-894A in the treatment of Charcot-Marie-Tooth disease, axonal, type 2S (CMT2S), an inherited peripheral neuropathy for which there is no available treatment, was accepted by the FDA in 2024. Previously in 2023, VCA-894A was granted Orphan Drug Designation for the same indication. The Phase I clinical study for VCA-894A expects to enroll the patient by mid-2025.
- In December 2024, Vanda announced that the FDA has granted Orphan Drug Designation for VGT-1849A, a selective antisense oligonucleotide (ASO)-based JAK2 inhibitor for the treatment of polycythemia vera (PV), a form of a rare hematologic malignancy that is estimated to affect 1 in 2,000 Americans.
Key Regulatory Milestones
- Tradipitant NDA for motion sickness submitted in Q4 2024.
- Fanapt® MAA for bipolar I disorder and schizophrenia submitted in Q4 2024.
- HETLIOZ® MAA in Smith-Magenis syndrome (SMS) submitted in Q4 2024.
- Bysanti™ NDA for bipolar I disorder and schizophrenia expected to be submitted in Q1 2025.
- Imsidolimab BLA in generalized pustular psoriasis expected to be submitted in 2025.
GAAP Financial Results
Net loss was
Net loss was
2025 Financial Guidance and 2030 Revenue Targets
Vanda expects to achieve the following financial objectives in 2025:
Full Year 2025 Financial Objectives | Full Year 2025 Guidance |
Total revenues
|
Vanda is providing 2030 revenue targets. For the psychiatry portfolio alone, Vanda is targeting annual revenue in excess of
Conference Call
Vanda has scheduled a conference call for today, Thursday, February 13, 2025, at 4:30 PM ET. During the call, Vanda's management will discuss the fourth quarter and full year 2024 financial results and other corporate activities. Investors can call 1-800-715-9871 (domestic) or 1-646-307-1963 (international) and use passcode number 2881765. A replay of the call will be available on Thursday, February 13, 2025, beginning at 8:30 PM ET and will be accessible until Thursday, February 20, 2025 at 11:59 PM ET. The replay call-in number is 1-800-770-2030 for domestic callers and 1-609-800-9909 for international callers. The passcode number is 2881765.
The conference call will be broadcast simultaneously on Vanda's website, www.vandapharma.com. Investors should click on the Investors tab and are advised to go to the website at least 15 minutes early to register, download, and install any necessary software or presentations. The call will also be archived on Vanda's website for a period of 30 days.
References
- IQVIA Prescription Data
About Vanda Pharmaceuticals Inc.
Vanda is a leading global biopharmaceutical company focused on the development and commercialization of innovative therapies to address high unmet medical needs and improve the lives of patients. For more on Vanda Pharmaceuticals Inc., please visit www.vandapharma.com and follow us on X @vandapharma.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
Various statements in this press release, including, but not limited to, the guidance provided under "2025 Financial Guidance and 2030 Revenue Targets" above and the related implied growth of Vanda's business, and statements regarding Vanda's plans for pursuit of FDA approval of BysantiTM for the treatments of acute bipolar I disorder and schizophrenia and imsidolimab for the treatment of GPP, and the related timelines; Vanda's expectations with respect to the growth opportunities for its psychiatry frachise; Vanda's consideration of foreign regulatory approval for imsidolimab and its potential development for other inflammatory disorders; Vanda's clinical development plans and expected timelines for Fanapt® LAI, BysantiTM for the treatment of MDD, VQW-765 for the treatment of acute performance anxiety in social situations, and VCA-894A for the treatment of CMT2S; the commercial and therapeutic potential for BysantiTM; the potential to extend patent exclusivity for BysantiTM into the 2040s; the anticipated timing of the initiation and completion of technology transfer activities and the preparation of regulatory filings in the US and EU for imsidolimab; and the prevalence of PV are "forward-looking statements" under the securities laws. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements are based upon current expectations and assumptions that involve risks, changes in circumstances and uncertainties. Important factors that could cause actual results to differ materially from those reflected in Vanda's forward-looking statements include, among others, Vanda's ability to continue to grow its psychiatry portfolio and overall business; the results of Vanda's review of foreign regulatory opportunities for imsidolmab; Vanda's ability to identify additional indications for imsidolimab; Vanda's ability to complete and submit to the FDA the NDA for BysantiTM for the treatments of acute bipolar I disorder and schizophrenia in the first quarter of 2025; Vanda's ability to complete and submit the BLA for imsidolimab for the treatment of GPP in 2025; Vanda's ability to complete the Phase III clinical study for BysantiTM for MDD and receive results in 2026; Vanda's ability to initiate the Phase III program for VQW-765 in 2025; Vanda's ability to enroll the CMT2S patient in the Phase I clinical study for VCA-894A by mid-2025; Vanda's ability to complete the clinical development of, obtain regulatory approval for, and successfully commercialize, BysantiTM for the treatments of acute bipolar I disorder, schizophrenia and MDD; Vanda's ability to satisfy the conditions necessary to extend BysantiTM's patent exclusivity into the 2040s; Vanda's ability to initiate and complete the technology transfer activities and prepare the BLA and MAA for imsidolimab in the specified timeframes; and the accuracy of the estimate regarding the prevalence of PV. Therefore, no assurance can be given that the results or developments anticipated by Vanda will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Vanda. Forward-looking statements in this press release should be evaluated together with the various risks and uncertainties that affect Vanda's business and market, particularly those identified in the "Cautionary Note Regarding Forward-Looking Statements", "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Vanda's most recent Annual Report on Form 10-K, as updated by Vanda's subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the
All written and verbal forward-looking statements attributable to Vanda or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Vanda cautions investors not to rely too heavily on the forward-looking statements Vanda makes or that are made on its behalf. The information in this press release is provided only as of the date of this press release, and Vanda undertakes no obligation, and specifically declines any obligation, to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
VANDA PHARMACEUTICALS INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except for share and per share amounts) (unaudited) | |||||||
Three Months Ended | Twelve Months Ended | ||||||
December 31 | December 31 | December 31 | December 31 | ||||
Revenues: | |||||||
Fanapt® net product sales | $ 26,649 | $ 22,599 | $ 94,297 | $ 90,873 | |||
HETLIOZ® net product sales | 20,044 | 21,072 | 76,675 | 100,167 | |||
PONVORY® net product sales | 6,492 | 1,600 | 27,800 | 1,600 | |||
Total revenues | 53,185 | 45,271 | 198,772 | 192,640 | |||
Operating expenses: | |||||||
Cost of goods sold excluding amortization | 2,590 | 3,460 | 11,314 | 14,796 | |||
Research and development | 19,840 | 24,339 | 74,431 | 76,823 | |||
Selling, general and administrative | 39,282 | 23,613 | 146,414 | 112,883 | |||
Intangible asset amortization | 1,752 | 953 | 7,273 | 2,090 | |||
Total operating expenses | 63,464 | 52,365 | 239,432 | 206,592 | |||
Loss from operations | (10,279) | (7,094) | (40,660) | (13,952) | |||
Other income, net | 3,782 | 5,433 | 17,739 | 20,291 | |||
Income (loss) before income taxes | (6,497) | (1,661) | (22,921) | 6,339 | |||
Provision (benefit) for income taxes | (1,585) | 739 | (4,021) | 3,830 | |||
Net income (loss) | $ (4,912) | $ (2,400) | $ (18,900) | $ 2,509 | |||
Net income (loss) per share, basic | $ (0.08) | $ (0.04) | $ (0.33) | $ 0.04 | |||
Net income (loss) per share, diluted | $ (0.08) | $ (0.04) | $ (0.33) | $ 0.04 | |||
Weighted average shares outstanding, basic | 58,308,487 | 57,532,309 | 58,149,087 | 57,380,975 | |||
Weighted average shares outstanding, diluted | 58,308,487 | 57,532,309 | 58,149,087 | 57,557,911 |
VANDA PHARMACEUTICALS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) | |||
December 31 | December 31 | ||
ASSETS | |||
Current assets: | |||
Cash and cash equivalents | $ 102,316 | $ 135,821 | |
Marketable securities | 272,327 | 252,443 | |
Accounts receivable, net | 47,101 | 34,155 | |
Inventory | 1,726 | 1,357 | |
Prepaid expenses and other current assets | 15,420 | 9,170 | |
Total current assets | 438,890 | 432,946 | |
Property and equipment, net | 2,132 | 2,037 | |
Operating lease right-of-use assets | 5,602 | 7,103 | |
Finance lease right-of-use assets | 4,943 | — | |
Intangible assets, net | 114,096 | 121,369 | |
Deferred tax assets | 81,440 | 75,000 | |
Non-current inventory and other | 9,101 | 9,985 | |
Total assets | $ 656,204 | $ 648,440 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | |||
Current liabilities: | |||
Accounts payable and accrued liabilities | $ 39,086 | $ 38,460 | |
Product revenue allowances | 60,895 | 49,237 | |
Total current liabilities | 99,981 | 87,697 | |
Operating lease non-current liabilities | 4,944 | 7,006 | |
Finance lease non-current liabilities | 3,146 | — | |
Other non-current liabilities | 9,587 | 8,827 | |
Total liabilities | 117,658 | 103,530 | |
Stockholders' equity: | |||
Common stock | 58 | 58 | |
Additional paid-in capital | 712,706 | 700,274 | |
Accumulated other comprehensive income (loss) | 74 | (30) | |
Accumulated deficit | (174,292) | (155,392) | |
Total stockholders' equity | 538,546 | 544,910 | |
Total liabilities and stockholders' equity | $ 656,204 | $ 648,440 |
Corporate Contact:
Kevin Moran
Senior Vice President, Chief Financial Officer and Treasurer
Vanda Pharmaceuticals Inc.
202-734-3400
pr@vandapharma.com
Jim Golden / Jack Kelleher / Dan Moore
Collected Strategies
VANDA-CS@collectedstrategies.com
Follow us on X @vandapharma
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SOURCE Vanda Pharmaceuticals Inc.
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