Vanda Pharmaceuticals Inc. announced robust financial and operational results for the fourth quarter and full year ended December 31, 2024. Total net product sales for Q4 2024 reached $53.2 million, a 17% increase year-over-year, primarily fueled by an 18% rise in Fanapt® net product sales. Despite a net loss of $4.9 million for the quarter, the company highlighted significant progress in its development pipeline, including multiple regulatory submissions and commercial launches, positioning it for continued growth in 2025 and beyond.
Total net product sales for Q4 2024 increased by 17% to $53.2 million compared to Q4 2023.
Fanapt® net product sales grew by 18% to $26.6 million in Q4 2024, driven by a significant increase in new patient starts.
Vanda submitted multiple Marketing Authorization Applications (MAA) and New Drug Applications (NDA) in Q4 2024, including for Fanapt®, HETLIOZ®, and Tradipitant.
Cash, cash equivalents, and marketable securities stood at $374.6 million as of December 31, 2024.
Vanda expects total revenues for full year 2025 to be between $210 million and $250 million. The company is also targeting annual revenue in excess of $750 million for its psychiatry portfolio alone by 2030, and total annual revenue exceeding $1 billion by 2030.
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