Vanda Pharmaceuticals(VNDA) - 2025 Q3 - Quarterly Results

Sales Performance - Total net product sales reached $56.3 million in Q3 2025, an 18% increase from $47.7 million in Q3 2024[6] - Fanapt sales increased by 31% to $31.2 million in Q3 2025 compared to $23.9 million in Q3 2024[5] - HETLIOZ sales were $18.0 million in Q3 2025, a slight increase of 1% from $17.9 million in Q3 2024[6] - PONVORY sales grew by 20% to $7.0 million in Q3 2025 compared to $5.9 million in Q3 2024[6] - Total revenues for Q3 2025 reached $56.258 million, a 18% increase from $47.651 million in Q3 2024[21] - Net product sales for Fanapt® were $31.245 million, up 30% from $23.919 million in the same quarter last year[21] Financial Losses - Net loss for Q3 2025 was $22.6 million, compared to a net loss of $5.3 million in Q3 2024[11] - The net loss for Q3 2025 was $22.586 million, compared to a net loss of $5.324 million in Q3 2024[21] - The company reported a loss before income taxes of $28.390 million for Q3 2025, compared to a loss of $6.244 million in Q3 2024[21] Cash and Assets - Cash and cash equivalents totaled $293.8 million as of September 30, 2025, a decrease of $31.8 million from June 30, 2025[6] - Total current assets decreased to $367.496 million from $438.890 million as of December 31, 2024[23] - Cash and cash equivalents declined to $70.022 million from $102.316 million at the end of 2024[23] - Total liabilities increased to $135.141 million, up from $117.658 million at the end of 2024[23] - The accumulated deficit rose to $253.579 million from $174.292 million as of December 31, 2024[23] Research and Development - Research and development expenses increased to $22.563 million, a 35% rise compared to $16.776 million in Q3 2024[21] Future Guidance and Milestones - Vanda expects total revenues for 2025 to be revised to $210 to $230 million, down from the previous guidance of $210 to $250 million[13] - The PDUFA target action date for the Tradipitant NDA for motion sickness is December 30, 2025[5] - The PDUFA target action date for the Bysanti NDA for bipolar I disorder and schizophrenia is February 21, 2026[5] - A clinical study of Tradipitant in preventing vomiting induced by Wegovy is complete, with results expected in Q4 2025[10] Shares Outstanding - Weighted average shares outstanding remained stable at approximately 59.1 million for both basic and diluted calculations[21]