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Jun 30, 2020
Vanda Q2 2020 Earnings Report
Vanda reported record commercial performance despite pandemic challenges.
Key Takeaways
Vanda Pharmaceuticals reported a 5% increase in total revenues to $62.2 million for the second quarter of 2020, driven by record sales of HETLIOZ®. Net income was $8.7 million, compared to $11.5 million in the second quarter of 2019. The company's cash, cash equivalents, and marketable securities increased to $339.8 million.
Total net product sales reached a record of $62.2 million, a 7% increase compared to Q1 2020.
HETLIOZ® net product sales reached a record of $41.6 million, an 18% increase compared to Q1 2020.
HETLIOZ® SMS marketing authorization applications were accepted for priority review by the FDA.
An Individual Patient Expanded Access protocol for tradipitant in gastroparesis was approved by the FDA.
Revenue by Segment
Forward Guidance
Vanda will continue to assess the impact of the evolving pandemic on its business and operations and will provide future updates to its financial guidance as necessary.
Positive Outlook
- Total revenues $240 to $260 million
- HETLIOZ® net product sales $155 to $165 million
- Fanapt® net product sales $85 to $95 million
- Year-end 2020 Cash Greater than $340 million as compared to prior guidance of greater than $320 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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