Vanda Pharmaceuticals Inc. (VNDA), is a leader in the biotherapeutics industry focusing primarily on the production and marketing of therapeutics for different diseases. The lead candidate off the company is HETLIOZ for treating several disorders including Jet lag disorder. Fanapt is utilized in treating schizophrenia and bipolar disorder.
The price of VNDA stock during the regular trading on February 3, 2022, was $14.6 with a 0.07% dip. At last check in the premarket on February 4, 2022, the stock further dropped by 21.5%.
VNDA: Events and Happenings
On February 4, 2022, VNDA updated about its clinical results from Phase 3 studies of tradipitant. The company assessed its efficacy and safety data and it did not meet the desired primary endpoint.
VNDA: CEO Comments
Speaking at the occasion, the CEO of VNDA Michael H. Polymeropoulos stated that although the company is disappointed at the results of the study, it will pave the way for further analysis of the product.
On November 10, 2021, VNDA informed that its Executive management presented at the following investor conferences.
- The Virtual Stifel 2021 Healthcare Conference on November 15, and
- The Jefferies 2021 London Healthcare Conference on November 18-19, 2021.
On October 14, 2021, VNDA reported that its CEO presented at the Evercore ISI’s Catalyst Day on October 18, 2021. On September 7, 2021, VNDA announced its management’s presence at the Virtual Citi 16th Annual BioPharma Conference on September 8-10, 2021.
VNDA: Key Financials
On November 3, 2021, VNDA released its financial results for the third quarter ended September 30, 2021. Some of the key updates are mentioned below.
Revenue
Revenue recorded in Q3 2021 was $70 million compared to $60.3 million in the same period of 2020. A gain of $9.7 million was observed over the period of the year. The company missed the estimated revenue target by $4.16 million.
EPS
Basic and diluted net income per share in Q3 2021 was $7.7 million or $0.14 compared to $5.9 million or $0.11 in the same quarter of 2020. The net income was increased over the period of the year. The company missed the estimated EPS by $0.04
Conclusion
VNDA stock improved in the past year by 1% but also down performed by 8% in the past six months. The premarket dip in the stock is the result of disappointing results of Phase 3 studies of its lead candidate which did not meet the primary endpoint. As the earnings release date of the company is approaching, it is expecting a revenue of $70 million and EPS is estimated to be $0.09.
