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Mar 31, 2024
Vanda Q1 2024 Earnings Report
Reported financial results for the first quarter ended March 31, 2024.
Key Takeaways
Vanda Pharmaceuticals reported a total revenue of $47.5 million, a decrease of 24% compared to Q1 2023. Net loss was $4.1 million, compared to net income of $3.3 million in Q1 2023. Cash, cash equivalents and marketable securities was $394.1 million as of March 31, 2024, representing an increase to Cash of $5.9 million compared to December 31, 2023.
Total net product sales were $47.5 million, a 24% decrease compared to the first quarter of 2023.
Fanapt® net product sales were $20.6 million, a 10% decrease compared to the first quarter of 2023.
HETLIOZ® net product sales were $20.1 million, a 49% decrease compared to the first quarter of 2023 due to generic competition.
Cash, cash equivalents and marketable securities increased by $5.9 million to $394.1 million.
Revenue by Segment
Forward Guidance
Given continuing uncertainties surrounding the U.S. market for HETLIOZ® for the treatment of Non-24 as a result of continued generic competition in the U.S. and the upcoming commercial launches for Fanapt® in acute bipolar I disorder and PONVORY® in multiple sclerosis, Vanda is unable to provide 2024 financial guidance at this time.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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