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Sep 30, 2021
Vanda Q3 2021 Earnings Report
Reported a 16% increase in total revenues compared to Q3 2020.
Key Takeaways
Vanda Pharmaceuticals reported Q3 2021 total revenues of $70.1 million, a 16% increase compared to Q3 2020. The company is awaiting results from the Phase III study of tradipitant in gastroparesis expected by the end of 2021.
Total revenues were $70.1 million, a 16% increase compared to Q3 2020.
HETLIOZ® net product sales were $45.6 million, a 15% increase compared to Q3 2020.
Fanapt® net product sales were $24.5 million, an 18% increase compared to Q3 2020.
Income before taxes was $10.7 million compared to $8.4 million in Q3 2020.
Forward Guidance
Vanda is updating its 2021 financial guidance and expects to achieve total revenues of $260 to $290 million, HETLIOZ® net product sales of $170 to $190 million, Fanapt® net product sales of $90 to $100 million, and year-end 2021 cash greater than $400 million.
Positive Outlook
- Total revenues are expected to be $260 to $290 million.
- HETLIOZ® net product sales are expected to be $170 to $190 million.
- Fanapt® net product sales are expected to be $90 to $100 million.
- Year-end 2021 cash is expected to be greater than $400 million.
Challenges Ahead
- HETLIOZ® net product sales guidance was revised to $170 to $190 million from the prior guidance of $180 to $200 million due to reimbursement challenges.
- Total revenues guidance was revised to $260 to $290 million from the prior guidance of $270 to $300 million.
- Reimbursement challenges with HETLIOZ® prescriptions for patients with Non-24 have increased significantly.
- Vanda is working to address these challenges and is confident in its ability to successfully navigate the current environment.
Historical Earnings Impact
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