Business
Vanda Pharmaceuticals Reports Third Quarter 2021 Financial Results
-- Q3 2021 total revenues were $70.1 million, a 16% increase compared to Q3 2020 -- Total revenues for the first nine months of 2021 were $200.7 million, an
About this update from Vanda Pharmaceuticals Inc.
[{"type":"text","content":"-- Q3 2021 total revenues were $70.1 million, a 16% increase compared to Q3 2020\n -- Total revenues for the first nine months of 2021 were $200.7 million, an 11% increase compared to the first nine months of 2020\n -- Enrollment of the Phase III clinical study of tradipitant in gastroparesis is complete and results are expected by the end of 2021\n\n\nWASHINGTON, Nov. 3, 2021 /PRNewswire/ -- Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA) today announced financial and operational results for the third quarter ended September 30, 2021.\n\"Vanda is approaching another pivotal moment in its 18-year history with the upcoming completion of the Phase III study of tradipitant in gastroparesis and anticipated results by the end of this year. We believe that tradipitant has the potential to become the first new product in 40 years for the treatment of gastroparesis, a serious and debilitating disorder that severely impacts the lives of many people. Additionally, the launch of HETLIOZ® and HETLIOZ LQ™ for nighttime sleep disturbances in people with Smith-Magenis Syndrome is progressing well as we are beginning our broad awareness campaign. Across all of our programs, patient access to innovative treatments remains a key goal of Vanda. We are currently working to address the escalating reimbursement delays for HETLIOZ®, which are especially impacting Non-24 patients with light perception, and we are confident in our ability to drive positive outcomes for patients. I am proud of the Vanda team for continuing to advance Vanda's innovation objectives and creating value for patients and all of the company's stakeholders,\" said Mihael H. Polymeropoulos, M.D., Vanda's President, CEO and Chairman of the Board.\nFinancial Highlights \nThird Quarter of 2021\nTotal net product sales from HETLIOZ® and Fanapt® were $70.1 million in the third quarter of 2021, a 16% increase compared to $60.3 million in the third quarter of 2020. HETLIOZ® net product sales were $45.6 million in the third quarter of 2021, a 15% increase compared to $39.6 million in the third quarter of 2020. Fanapt® net product sales were $24.5 million in the third quarter of 2021, an 18% increase compared to $20.7 million in the third quarter of 2020. Income before taxes was $10.7 million in the third quarter of 2021 compared to $8.4 million in the third quarter of 2020.First Nine M...