Vanda Pharma (VNDA) Buy Rating and $15 PT Reiterated - Jefferies

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Vanda Pharmaceuticals Reports First Quarter 2016 Financial Results

May 4, 2016 4:01 PM EDT

WASHINGTON, May 4, 2016 /PRNewswire/ -- Vanda Pharmaceuticals Inc. (Vanda) (NASDAQ: VNDA), today announced financial and operational results for the first quarter ended March 31, 2016.

"Vanda made significant progress in the first quarter of 2016," said Mihael H. Polymeropoulos, M.D., Vanda's President and CEO. "We continued to grow our HETLIOZ and Fanapt franchises and we look forward to a number of important clinical development milestones in the coming months."

Key Highlights:

Total net product sales from HETLIOZ® and Fanapt® were $33.3 million during the first quarter of 2016, a 4% increase... More