Vanda Pharmaceuticals Inc. · NASDAQ:VNDA
Vanda Pharmaceuticals — Investor Presentation (September 2026)
34 slides from Vanda Pharmaceuticals's investor presentation, September 2026
Slide 1: Corporate Presentation September 2026
2026 CORPORATE PRESENTATION September 2026
Slide 2: Forward-looking statements
Various statements in this presentation, including, but not limited to, the guidance provided under “2026 Financial Guidance” and statements regarding Vanda’s commercial products, plans, priorities and opportunities, as well as statements about Vanda’s strategic focus and its products in development
Slide 3: Vanda is a leading global biopharmaceutical company
Vanda is a leading global biopharmaceutical company dedicated to innovating in the service of people’s pursuit of happiness Innovation-Led Strategy, with decades-long track record of successfully developing and commercializing innovative therapies NASDAQ: Robust Commercial Portfolio anchored by five
Slide 4: Grow & Diversify Revenue, Advance Pipeline, Focus on Consumers
Grow & Diversify Advance Focus on Revenue Pipeline Consumers Grow revenue across current Programs in regulatory review Focus on large markets with products in existing indications with upcoming PDUFA date and unmet patient needs programs currently at Phase III Diversify revenue with potential stage
Slide 5: Product and program status overview
Fanapt oral tablets approved in U.S. for acute BYSANTI oral tablets approved in U.S. for acute treatment of bipolar I disorder in adults and treatment of bipolar I disorder in adults and schizophrenia schizophrenia Fanapt Long Acting Injectable (LAI): Phase III BYSANTI clinical program in ma
Slide 6: Recent and Upcoming Milestones
Recent and Upcoming Milestones ° 2026 2027 o 9 9 eo Feb 20 1H 2027 BYSANTI™ for imsidolimab for bipolar | disorder generalized and pustular psoriasis schizophrenia (GPP) BYSANTI™ Phase III study for MDD FDA approval; PDUFA target I commercial action date: Sins wElisS expected launch expected Decembe
Slide 7: Product Portfolio by Indication
Product Portfolio Indication Phase I/II Phase III Regulatory Market Bipolar I Disorder Schizophrenia Long Acting Injectable (LAI) Psychiatry Bipolar l Disorder Schizophrenia Major Depressive Disorder Non-24 SMS Jet Lag Disorder Sleep Disorder Insomnia Pediatric Insomnia Delayed Sleep Phase Disorder
Slide 8: Early-stage Pipeline Programs
Product Indication Preclinical Phase I Phase II Phase III Regulatory VQW-765 Social Performance Anxiety VSJ-110 (Activator) CFTR VPO-227 (Inhibitor) Hematologic Malignancies VTR-297 Onychomycosis Parkinson’s Disease ASO Programs CMT2S
Slide 9: 2026-2027 Commercial Growth Drivers and 2028+ Growth Drivers
2026 - 2027 Commercial Growth Drivers 2028+ Growth Drivers Fanapt® Long- acting Injectable BIPOLAR SCHIZOPHRENIA MDD SCHIZOPHRENIA SCHIZOPHRENIA GLP-1 GASTROPARESIS BIPOLAR ADJUNCT NON-24 / MULTIPLE ULCERATIVE PSORIASIS COLITIS SMS SCLEROSIS imsidolimab MOTION GPP SICKNESS FDA approved products-indi
Slide 10: NEREUS (tradipitant) capsules
NEREUS™ (tradipitant) capsules
Slide 11: Oral NK-1 receptor antagonist for motion-induced vomiting
An oral neurokinin-1 (NK-1) receptor antagonist, for the prevention of vomiting induced by motion. First new pharmacologic treatment in motion sickness in over four decades. Premium prescription Approx. 15% of that medication for those who Approx. 30% of adults1 (roughly 78 population (roughly 12 us
Slide 12: Adjunct Opportunity in $50B+ GLP-1 Market
Adjunct Opportunity in $50B+ GLP-1 Market © A new unmet need... (Va Nausea and vomiting are the primary drivers of GLP-1 treatment discontinuation (30-50%). Vanda’s randomized controlled study met primary and secondary endpoints. The study demonstrated tradipitant’s ability to significantly mitigate
Slide 13: Primary and Key Secondary Endpoints
Primary Endpoint Key Secondary Endpoint Placebo Tradipitant Placebo Tradipitant Endpoint P-value Endpoint P-value (N=58) (N=58) (N=58) (N=58) Proportion with Proportion 58.6% 29.3% 0.0016 vomiting and worst 48.3% 22.4% 0.0039 with Vomiting* nausea ≥3** Proportion with Vomiting (%) Proportion with Vo
Slide 14: BYSANTI
BYSANTI™
Slide 15: BYSANTI Program Status
BYSANTI" Program Status =) Bipolar | disorder / Schizophrenia— NDA for BYSANTI™ for the treatment of bipolar | disorder and schizophrenia was approved by the FDA on February 20, 2026. Major Depressive Disorder — A BYSANTI™ Phase III clinical study for use as a once-daily adjunctive [2] treatment for
Slide 16: Schizophrenia, Bipolar Disorder and MDD patient populations
3M Fanapt® Approved Schizophrenia Patients1 BYSANTI Approved Bipolar 11M Fanapt® Approved Disorder patients2 BYSANTI Approved 21M BYSANTI MDD Phase III MDD patients3 1. Johns Hopkins Medicine. Mental health disorder statistics. https://www.hopkinsmedicine.org/health/wellness-and-prevention/mental-he
Slide 17: HETLIOZ
HETLIOZ®
Slide 18: HETLIOZ Jet Lag Program Status
HETLIOZ® Jet Lag Program Status co Vanda received a complete response letter (CRL) from the FDA in August 2019 related to the sNDA of HETLIOZ® for the treatment of jet lag disorder. Vanda agreed on a collaborative framework with the FDA for the resolution of certain disputes regarding HETLIOZ®. This
Slide 19: Imsidolimab
Imsidolimab “a a ' I VA ITICALS InG. 7
Slide 20: Imsidolimab Program Status
Imsidolimab Program Status co BLA for imsidolimab for the treatment of generalized pustular psoriasis (GPP) was accepted by the FDA with a PDUFA target action date of December 12, 2026. GEMINI-1 Phase III trial: rapid and clinically meaningful improvement of GPP was obtained with single IV doses of
Slide 21: References
1. Prinz, J. C. et al. Prevalence, comorbidities and mortality of generalized pustular psoriasis: A literature review. Journal of the European Academy of Dermatology and Venereology 37, 256–273 (2022). 2. Marrakchi, S. et al. Interleukin-36–Receptor Antagonist Deficiency and Generalized Pustular Pso
Slide 22: Fanapt Commercial Highlights
Fanapt® Commercial Highlights
Slide 23: Fanapt Commercial Highlights
Fanapt® Commercial Highlights Fanape. 11mg, 2 mg, 4 mg, 6 mg, 8 mg, 10 mg, 12mg DOSAGE INSTRUCTIONS: b ia 43088-113-04 Rx Only * FDA approval of Fanapt® for the acute treatment of A ; manic or mixed episodes associated with bipolar | disorder in adults. Fa napt: ablets tration pack iloperidone# t *
Slide 24: Fanapt prescription growth Q2 2025 to Q2 2026
+31% YoY Total prescriptions (TRx) growth from Q2 2025 to Q2 2026 +42% YoY New prescriptions (NRx) growth from Q2 2025 to Q2 2026 +32% YoY New to brand prescriptions (NBRx) growth from Q2 2025 to Q2 2026 Source: IQVIA
Slide 25: HETLIOZ & PONVORY Commercial Highlights
HETLIOZ® & PONVORY® Commercial Highlights
Slide 26: HETLIOZ Commercial Highlights
HETLIOZ® Commercial Highlights En co) + _ HETLIOZ® continues to be the leading product from a market share perspective through patient loyalty despite generic competition. * Continue growth of HETLIOZ® and HETLIOZ® LQ in SMS in U.S. | market. * Hetlioz” . ‘see axle capslles * Continue to pursue FDA
Slide 27: PONVORY Commercial Highlights
PONVORY® Commercial Highlights © Ponvory co (ponesimod) sxx" MDC 43068-620-01 + PONVORY?® is indicated for the treatment of relapsing forms of Pay & Ponvory f multiple sclerosis (MS). a (ponesimod) * PONVORY? is now promoted in the US across all 50 states. sae f 20mg J * Continued increase in underl
Slide 28: Late-Stage Pipeline Update
Late-Stage Pipeline Update
Slide 29: Fanapt Lifecycle Management Plans
Fanapt® Lifecycle Management Plans =) [2] Long Acting Injectable: schizophrenia — Phase III program for the LAI formulation of Fanapt® is ongoing. Long Acting Injectable: hypertension — Initiated a study of the LAI as a once-a-month injectable for the treatment of uncontrolled hypertension.
Slide 30: HETLIOZ Lifecycle Management Plans
HETLIOZ® Lifecycle Management Plans e) Jet Lag Disorder — Clinical program completed; continuing to pursue FDA approval Insomnia — Clinical program completed; continuing to pursue FDA approval Delayed Sleep Phase Disorder — Phase III program initiated Non-24 Pediatric — Phase Ill clinical program in
Slide 31: NEREUS Lifecycle Management Plans
NEREUS™ Lifecycle Management Plans =) Vomiting induced by a GLP-1 analog — Phase II positive study results reported in November 2025 of [| tradipitant in preventing nausea and vomiting induced by a GLP-1 analog, Wegovy® (semaglutide). Phase III study is enrolling patients and results are expected in
Slide 32: Financial Results
Slide 33: 2026 Financial Guidance and Q2 2026 Highlights
2026 Financial Guidance1 Q2 2026 Financial Total Revenues $240M - $290M Highlights Fanapt® and BYSANTI net product sales $150M - $170M $50.5 million NEREUS net product sales $10M - $30M Q2 2026 Cash balance of $170.0M and weighted average shares outstanding of 59.8M Other net product sales $80M - $9
Slide 34: For more information on our products
For more information on Fanapt®, please visit www.FANAPT.com For more information on BYSANTI , please visit www.BYSANTI.com For more information on HETLIOZ®, please visit www.HETLIOZ.com For more information on PONVORY®, please visit www.PONVORYUS.com For more information on NEREUS , please visit ww
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