Vanda Raises 2026 Revenue Outlook to $240–$290M After 26% Fanapt Growth
Fanapt net product sales rose 26% to $29.6 million in Q1 2026, driven by a 32% boost in total prescriptions and a 76% surge in new-to-brand prescriptions. The company launched NEREUS via its innovative direct-to-consumer platform, gained FDA approval for BYSANTI to treat bipolar I disorder and schizophrenia, and lifted 2026 revenue guidance to $240–$290 million.
1. Strong Q1 Commercial Performance
In the first quarter ended March 31, 2026, total net product sales reached $51.7 million, a 3% increase year-over-year, driven by Fanapt sales rising 26% to $29.6 million, Ponvory up 10%, and Hetlioz declining 24%. Fanapt total prescriptions surged 32% and new-to-brand prescriptions jumped 76%, with weekly TRx hitting over 2,600 by late April.
2. NEREUS Launch and Direct-to-Consumer Platform
The company launched NEREUS™ (tradipitant) through its nereus.us direct-to-consumer platform, enabling online ordering and home delivery as the first new prescription therapy for motion-induced vomiting in adults in over 40 years. The platform is expected to contribute $10–30 million in net sales for 2026.
3. Pipeline and Regulatory Milestones
BYSANTI™ (milsaperidone) received FDA approval on February 20 for bipolar I disorder and schizophrenia with data exclusivity through 2031 and patents until 2044. The FDA accepted the BLA for imsidolimab for generalized pustular psoriasis with a PDUFA target date of December 12, 2026, while multiple Phase III trial results are anticipated later this year and early 2027.
4. Financial Outlook and Guidance Revision
Vanda raised its full-year 2026 revenue guidance to $240–$290 million, up from $230–$260 million, reflecting contributions from NEREUS. Cash and marketable securities stood at $202.3 million as of March 31, and Q1 net loss widened to $48.6 million due to investments in new launches and pipeline advancement.