Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) Q1 2020 Earnings Conference Call May 6, 2020 4:30 PM ET Company Participants Mihael Polymeropoulos – Chief Executive Officer Kevin Moran – Acting-Chief Financial Officer Conference Call Participants Ben Porter – Stifel Operator Ladies and gentlemen, thank you for standing by, and welcome to the Q1 2020 Vanda Pharmaceuticals Inc. Earnings Conference Call. At this time all participants are in a listen-only mode. (Operator Instructions) I'd now like to hand the conferen ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 001-34186 VANDA PHARMACEUTICALS INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 03-049 ...

Financial Data and Key Metrics Changes - Total revenues for the full year of 2019 were $227.2 million, an 18% increase compared to $193.1 million for 2018 [28] - Net income for 2019 was $115.6 million compared to $25.2 million for 2018, with a significant income tax benefit of $86.5 million [30] - Cash, cash equivalents, and marketable securities as of December 31, 2019, were $312.1 million, representing an increase of $54.8 million during 2019 [30] Business Line Data and Key Metrics Changes - HETLIOZ product sales for 2019 were $143 million, reflecting a 23% growth compared to 2018 [29] - Fanapt product sales for 2019 were $84.2 million, showing a 9% growth compared to 2018 [29] - In Q4 2019, HETLIOZ net product sales were $38.6 million, a 19% increase compared to $32.4 million in Q4 2018 [31] - Fanapt net product sales in Q4 2019 were $22.3 million, reflecting an 8% increase compared to $20.6 million in Q4 2018 [33] Market Data and Key Metrics Changes - The specialty pharmacy channel held less than two weeks of inventory as of December 31, 2019, with a slight increase in inventory compared to Q3 2019 [32] - Fanapt prescriptions decreased by approximately 3% in Q4 2019 compared to Q4 2018 [34] Company Strategy and Development Direction - The company plans to achieve net product sales from both HETLIOZ and Fanapt between $240 million and $260 million in 2020 [36] - HETLIOZ net product sales guidance for 2020 is between $155 million and $165 million, while Fanapt is expected to generate between $85 million and $95 million [36] - The company aims to advance commercialization efforts for HETLIOZ in the U.S. and Germany, and expand into new EU markets [40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to build on growth and innovation efforts in 2020 [8] - The company anticipates that the first quarter of 2020 HETLIOZ revenue will be impacted by seasonal factors and annual payer disruptions [36] - Management expects R&D and SG&A operating expenses to rise in 2020 due to increased commercial activities and clinical programs [37] Other Important Information - The EPIONE study of tradipitant for atopic dermatitis did not meet its primary endpoint but showed significant antipruritic effects in mild patients [12][14] - The company is conducting EPIONE II and plans to reassess the study design based on the results of EPIONE [23] - The company is also advancing its pipeline products, including tradipitant for gastroparesis and motion sickness [24] Q&A Session Summary Question: What is the realistic outcome for the EPIONE study results? - Management indicated that while the primary endpoint was not met, tradipitant showed strong effects in mild atopic dermatitis patients, and the ongoing EPIONE II study could be adapted to focus on this population [47][49] Question: What updates can be provided regarding the FDA interactions? - Management confirmed ongoing discussions with the FDA regarding the necessity of additional toxicology studies and expressed optimism about identifying suitable solutions [55] Question: What is the current hypothesis on why tradipitant is effective in mild patients? - Management explained that mild atopic dermatitis may represent a distinct endotype, and the drug's mechanism may be more effective in this population due to lower levels of inflammatory mediators [76][80] Question: What is the unmet need for delayed sleep phase disorder (DSPD)? - Management noted that DSPD affects a significant portion of the population, particularly adolescents, and current treatments are limited, highlighting the potential for HETLIOZ in this area [82] Question: Will there be changes in corporate strategy following Jim Kelly's departure? - Management assured that there would be no immediate changes in corporate strategy and expressed gratitude for Jim Kelly's contributions [85]

| --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|--------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | CORPORATE | | | | | | | | | | | | | | | | | | 2019 | | | | | | | | | | PRESENTATION | November 2019 Forward-Looking Statements Various statements in this presentation, including, but not limited to, Vanda's financial guidance for 2019, are "forward-looking statements" under the securities laws. Forward-looking statements are based upon current expectations that ...

Vanda Pharmaceuticals, Inc. (NASDAQ:VNDA) Q3 2019 Earnings Conference Call November 6, 2019 4:30 PM ET Company Participants Jim Kelly – Executive Vice President and Chief Financial Officer Mihales Polymeropoulos – President and Chief Executive Officer Tim Williams – General Counsel Conference Call Participants Roger Song – Jefferies Joel Beatty – Citi Jason Butler – JMP Securities Derek Archila – Stifel Operator Ladies and gentlemen, thank you for standing by, and welcome to the Third Quarter 2019 Vanda Pha ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-34186 VANDA PHARMACEUTICALS INC. (Exact name of registrant as specified in its charter) Securities regist ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-34186 VANDA PHARMACEUTICALS INC. (Exact name of registrant as specified in its charter) Delaware (State or oth ...

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) Q2 2019 Earnings Conference Call July 31, 2019 4:30 PM ET Company Participants James Kelly - Chief Financial Officer Mihael Polymeropoulos - President and Chief Executive Officer Conference Call Participants Roy Buchanan - JMP Securities LLC Chris Howerton - Jefferies Group LLC Joel Beatty - Citigroup Inc. Derek Archila - Stifel Financial Corp. Operator Good day, ladies and gentlemen, and welcome to Vanda Pharmaceuticals’ Second Quarter 2019 Earnings Conference call. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-34186 VANDA PHARMACEUTICALS INC. (Exact name of registrant as specified in its charter) (State or other juris ...

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) Q1 2019 Results Earnings Conference Call May 1, 2019 4:30 AM ET Company Participants Jim Kelly - Executive Vice President, Chief Financial Officer, Treasurer Mihael Polymeropoulos - President and Chief Executive Officer Conference Call Participants Chris Howerton - Jefferies Joel Beatty - Citi Derek Archila - Stifel Esther Rajavelu - Oppenheimer Operator Good day ladies and gentlemen and welcome to the Vanda Pharmaceuticals' first quarter 2019 earnings conference cal ...