2026 CORPORATE PRESENTATION January 2026 PHARMACEUTICALS INC. Various statements in this presentation, including, but not limited to, the guidance provided under "2025 Financial Guidance" and statements regarding Vanda's commercial products, plans, priorities and opportunities, as well as statements about Vanda's strategic focus and its products in development and the related clinical development and regulatory timelines and commercial and therapeutic potential for such products, are "forward-looking statem ...

Core Insights - Vanda Pharmaceuticals reported a significant increase in Fanapt revenue, driven by expanded sales efforts and a direct-to-consumer brand awareness campaign, with expectations for continued growth in upcoming quarters [2][6] - The company anticipates important regulatory and clinical milestones that could enhance its commercial portfolio and advance its clinical pipeline [2] Financial Highlights - In Q2 2025, net product sales from Fanapt® reached $29.3 million, a 27% increase from $23.2 million in Q2 2024 [6][7] - Total net product sales from Fanapt®, HETLIOZ®, and PONVORY® were $52.6 million in Q2 2025, a 4% increase compared to $50.5 million in Q2 2024 [7] - The net loss for Q2 2025 was $27.2 million, compared to a net loss of $4.5 million in Q2 2024 [9] - Cash and cash equivalents stood at $325.6 million as of June 30, 2025, reflecting a decrease of $15.4 million from March 31, 2025 [7] Operational Highlights - Bysanti™ NDA for bipolar I disorder and schizophrenia is under FDA review with a PDUFA target action date of February 21, 2026 [6][8] - Tradipitant NDA for motion sickness is also under review, with a PDUFA target action date of December 30, 2025 [6][14] - Fanapt® experienced a 24% increase in total prescriptions (TRx) in Q2 2025 compared to Q2 2024 [7] Financial Guidance - Vanda expects total revenues for the full year 2025 to be between $210 million and $250 million, with year-end cash projected to be between $280 million and $320 million [11]

Group 1 - Vanda Pharmaceuticals Inc. will participate in the ASCP Annual Meeting from May 27 to May 30, 2025, presenting pharmacokinetic results of Milsaperidone and Iloperidone [1] - The presentation will include a poster titled "Pharmacokinetic Results of Single-Dose and Multiple-Dose Bioequivalence Studies of Milsaperidone and Iloperidone Immediate-Release Oral Tablets" [1] Group 2 - Bysanti™ is a new atypical antipsychotic drug that, if approved, could be available for sale in the US in 2026 [2] - Bysanti™ is expected to interact with various neurotransmitter receptors, including alpha-adrenergic, serotonin, and dopamine receptors [2] - Patent exclusivity for Bysanti™ could extend into the 2040s [2] Group 3 - Vanda Pharmaceuticals Inc. is focused on developing and commercializing innovative therapies to meet high unmet medical needs [3]

Core Viewpoint - Vanda Pharmaceuticals Inc. has filed a New Drug Application (NDA) for Bysanti™ (milsaperidone) with the FDA, which has set a target decision date of February 21, 2026, with no review issues identified at this time [1] Group 1: Product Development - Bysanti™ is a new chemical entity identified as an active metabolite of iloperidone, showing bioequivalence to iloperidone in clinical studies at both low and high doses [2] - The efficacy and safety of Bysanti™ for bipolar I manic and mixed episodes and schizophrenia are supported by clinical studies related to iloperidone, including two studies in acute schizophrenia episodes and one in bipolar I disorder [4] - Bysanti™ is currently being studied as a once-a-day adjunctive treatment for major depressive disorder (MDD) in patients with inadequate response to current treatments, with results expected in 2026 [5] Group 2: Market Potential and Exclusivity - If approved, Bysanti™ could be available for sale in the U.S. in 2026 and is eligible for 5 years of regulatory data exclusivity [5] - Current patent applications related to Bysanti™ could extend exclusivity into the 2040s [5][8] Group 3: Mechanism of Action - Bysanti™ belongs to the class of atypical antipsychotics, interacting with various neurotransmitter receptors, including alpha-adrenergic, serotonin, and dopamine receptors, which are believed to explain its therapeutic effects [6][8] - The discovery of bioequivalence to iloperidone allows for efficient development and exploration of additional therapeutic applications for Bysanti™ [7]