Vanda Pharmaceuticals (VNDA) Tops Q3 EPS by 2c, Revenues Miss; Offers FY20 Revenue Outlook

Vanda Pharmaceuticals (NASDAQ: VNDA) reported Q3 EPS of $0.11, $0.02 better than the analyst estimate of $0.09. Revenue for the quarter came in at $60.31 million versus the consensus estimate of $63.95 million.

Key Financial and Corporate Highlights

Third Quarter of 2020

• Total net product sales from HETLIOZ® and Fanapt® were $60.3 million in the third quarter of 2020, a 1% increase compared to $59.5 million in the third quarter of 2019.
• HETLIOZ® net product sales were $39.6 million in the third quarter of 2020, a 5% increase compared to $37.6 million in the third quarter of 2019.
• Fanapt® net product sales were $20.7 million in the third quarter of 2020, a 6% decrease compared to $21.9 million in the third quarter of 2019.
• Income before taxes was $8.4 million in the third quarter of 2020 compared to $12.3 million in the third quarter of 2019.

"Vanda continued to deliver strong commercial performance in the third quarter, despite the ongoing COVID-19 pandemic, while at the same time we advanced our robust clinical development pipeline," 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 $251.05 million.

• Vanda will continue to assess the impact of the evolving pandemic on its business and operations and will provide future updates to its financial guidance as necessary.

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

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