Vanda Pharmaceuticals (NASDAQ: VNDA) reported Q1 EPS of ($0.24), $0.01 better than the analyst estimate of ($0.25). Revenue for the quarter came in at $22.2 million versus the consensus estimate of $20.18 million.

"The first quarter of 2015 was a record quarter for product sales driven by HETLIOZ and Fanapt. As we are just at the beginning of accessing the 80,000 Non-24 patients in the U.S., the growth potential for HETLIOZ remains ahead. Similarly, the expanded patent exclusivity for Fanapt underscores the growth potential of this product through the coming decade and beyond. We are looking to further drive revenue growth through both geographic expansion and the disciplined life cycle management of our commercial products." said Mihael H. Polymeropoulos M.D., Vanda's President and CEO.

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