Vanda Pharmaceuticals (NASDAQ: VNDA) reported Q1 EPS of $0.01, $0.01 better than the analyst estimate of $0.00. Revenue for the quarter came in at $58 million versus the consensus estimate of $56.87 million.

Key Financial and Corporate Highlights

• Total revenues from HETLIOZ® and Fanapt® were $58.0 million in the first quarter of 2020, a 22% increase compared to $47.7 million in the first quarter of 2019.
• HETLIOZ® net product sales were $35.3 million in the first quarter of 2020, a 22% increase compared to $29.0 million in the first quarter of 2019.
• Fanapt® net product sales were $22.7 million in the first quarter of 2020, a 21% increase compared to $18.8 million in the first quarter of 2019.
• Cash, cash equivalents and marketable securities (Cash) were $312.3 million as of March 31, 2020, representing an increase to Cash of $44.5 million compared to March 31, 2019.
• Net income was $0.5 million for the first quarter of 2020, compared to a net loss of $0.6 million for the first quarter of 2019.

"Our strong financial performance in the first quarter well positions Vanda to continue to innovate and serve our patients, even during this deadly pandemic," said Mihael H. Polymeropoulos, M.D., Vanda's President and CEO.

GUIDANCE:

Vanda Pharmaceuticals sees FY2020 revenue of $240-260 million, versus the consensus of $247.77 million.

• Vanda will continue to assess the impact of the rapidly evolving COVID-19 pandemic on its business and operations and will provide future updates to its financial guidance as necessary. The financial guidance communicated by Vanda as of February 25, 2020 is shown below.

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