Business
Vanda Pharmaceuticals Reports Fourth Quarter and Full Year 2019 Financial Results
- Full year 2019 total revenues grew to $227.2 million, an 18% increase compared to 2018 - Full year 2020 total revenues expected to be between $240 million
About this update from Vanda Pharmaceuticals Inc.
[{"type":"text","content":"- Full year 2019 total revenues grew to $227.2 million, an 18% increase compared to 2018\n - Full year 2020 total revenues expected to be between $240 million and $260 million\n - Results from the EPIONE study of Tradipitant in the treatment of Pruritus in Atopic Dermatitis reported today\n\n\nWASHINGTON, Feb. 25, 2020 /PRNewswire/ -- Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA) today announced financial and operational results for the fourth quarter and full year ended December 31, 2019.\n\"We had another year of outstanding commercial growth,\" said Mihael H. Polymeropoulos, M.D., Vanda's President and CEO. \"I have never been more excited about the opportunities ahead with our relentless focus on developing innovative therapies for patients in need.\" \nKey Financial Highlights \nTotal revenues were $60.9 million in the fourth quarter of 2019, a 15% increase compared to $53.0 million in the fourth quarter of 2018. Total revenues were $227.2 million for the full year 2019, an 18% increase compared $193.1 million for the full year 2018. HETLIOZ® net product sales were $38.6 million in the fourth quarter of 2019, a 19% increase compared to $32.4 million in the fourth quarter of 2018. HETLIOZ® net product sales were $143.0 million for the full year 2019, a 23% increase compared to $115.8 million for the full year 2018. Fanapt® net product sales were $22.3 million in the fourth quarter of 2019, an 8% increase compared to $20.6 million in the fourth quarter of 2018. Fanapt® net product sales were $84.2 million for the full year 2019, a 9% increase compared to $77.3 million for the full year 2018. Cash, cash equivalents and marketable securities (Cash) were $312.1 million as of December 31, 2019, representing an increase to Cash of $54.8 million compared to December 31, 2018. Key Product and Pipeline Highlights\nTradipitant \nResults from the EPIONE study of tradipitant in the treatment of pruritus in atopic dermatitis were reported today. Vanda will reassess EPIONE 2 and determine next steps. Enrollment in the Phase III study of tradipitant in gastroparesis (VP-VLY-686-3301) is ongoing. Vanda expects to complete the Phase III program of tradipitant in motion sickness and file a New Drug Application with the U.S. Food and Drug Administration (FDA) in 2020. Vanda continues to engage with the FDA over the requirement of a 9-month...