Vanda Pharmaceuticals Q2 loss widens on lower sales, higher costs
VNDA•Outlook
Vanda sees full-year 2026 total revenue of $240 million to $290 million.
The company expects operating expenses to begin decreasing by the end of 2026 and more in 2027.
Vanda expects to fund operations through at least the end of 2027.
Quarterly results
Vanda Pharmaceuticals' Q2 net product sales fell 4% year over year as HETLIOZ sales declined.
Fanapt Q2 net product sales rose 23% year over year, offset by weaker HETLIOZ performance.
The company posted a $62.5 million net loss in Q2, bigger than a year ago, citing higher spending on launches and pipeline.
Result drivers and key details
- Fanapt growth - Fanapt net product sales rose 23% year over year, driven by expanded use following approval for bipolar disorder.
- HETLIOZ sales decline - HETLIOZ net product sales fell 66% year over year, with the company noting $7 million in late-shipped orders will be recognized in Q3.
- Higher operating expenses - Operating expenses rose due to investments in new product launches and pipeline advancement.
| Metric | Actual |
|---|---|
| Q2 loss per share | $1.04 |
| Q2 net loss | $62.51 million |
