Vanda Pharmaceuticals (VNDA) Tops Q2 EPS by 12c

Vanda Pharmaceuticals (NASDAQ: VNDA) reported Q2 EPS of $0.16, $0.12 better than the analyst estimate of $0.04. Revenue for the quarter came in at $62.21 million versus the consensus estimate of $61.95 million.

Key Financial and Corporate Highlights

• Total revenues from HETLIOZ® and Fanapt® were $62.2 million in the second quarter of 2020, a 5% increase compared to $59.1 million in the second quarter of 2019.
• HETLIOZ® net product sales were $41.6 million in the second quarter of 2020, a 10% increase compared to $37.8 million in the second quarter of 2019.
• Fanapt® net product sales were $20.6 million in the second quarter of 2020, a 3% decrease compared to $21.2 million in the second quarter of 2019.
• Cash, cash equivalents and marketable securities (Cash) were $339.8 million as of June 30, 2020, representing an increase to Cash of $47.2 million compared to June 30, 2019.
• Net income was $8.7 million in the second quarter of 2020 compared to net income of $11.5 million in the second quarter of 2019.

"We are very proud of the achievements of our team, especially the record commercial performance, even in the face of the challenges presented by the pandemic. We are also very excited with the progress of the HETLIOZ® SMS applications as we get closer to providing a therapeutic solution to patients with SMS," said Mihael H. Polymeropoulos, M.D., Vanda's President and CEO.

For earnings history and earnings-related data on Vanda Pharmaceuticals (VNDA) click here.

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