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Sep 30, 2023
Vanda Q3 2023 Earnings Report
Reported financial results for the third quarter ended September 30, 2023.
Key Takeaways
Vanda Pharmaceuticals reported total net product sales of $38.8 million from HETLIOZ® and Fanapt® in Q3 2023, a 41% decrease compared to Q3 2022. Net income was $0.1 million, a decrease from $3.3 million in the same quarter of the previous year. The company is advancing its development pipeline and expects FDA decisions on two sNDAs in the first half of 2024.
Total net product sales were $38.8 million, a 41% decrease compared to the same period last year.
HETLIOZ® net product sales decreased by 58% to $17.5 million due to generic competition.
Fanapt® net product sales decreased by 11% to $21.3 million.
Net income decreased to $0.1 million compared to $3.3 million in the same period last year.
Revenue by Segment
Forward Guidance
Vanda is unable to provide 2023 financial guidance due to uncertainties surrounding the U.S. market for HETLIOZ® as a result of ongoing patent litigation and the at-risk launch of a generic version.
Challenges Ahead
- HETLIOZ® net product sales will likely decline in future periods.
- Decline could be potentially significant.
- Decline related to the at-risk launch of a generic version of HETLIOZ® in the U.S.
- Uncertainties surrounding US market for HETLIOZ
- Ongoing HETLIOZ patent litigation
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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