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AI brief of an SEC Form 8-K · Vanda Pharmaceuticals Inc. (VNDA)

Vanda raises 2026 revenue guidance to $240-$290 million; Q1 net loss widens

Mixed Impact 4 of 5 guidance Written later

Vanda reported first-quarter 2026 total revenue of $51.7 million, up 3% from $50.0 million a year earlier, led by 26% growth in Fanapt net product sales. The net loss widened to $48.6 million, or $0.82 per share, from $29.5 million, or $0.50 per share, as operating expenses rose, and the company raised its full-year 2026 total revenue guidance to $240 million to $290 million from $230 million to $260 million, including $10 million to $30 million from the newly launched NEREUS.

Key points

  • Q1 2026 total net product sales were $51.7 million, up 3% from $50.0 million in Q1 2025; Fanapt rose 26% to $29.6 million while HETLIOZ fell 24% to $15.9 million.
  • Net loss was $48.6 million ($0.82 per diluted share) versus $29.5 million ($0.50 per share) in Q1 2025; selling, general and administrative expense rose to $68.4 million from $50.1 million.
  • Full-year 2026 total revenue guidance was raised to $240 million to $290 million from $230 million to $260 million, with NEREUS expected to contribute $10 million to $30 million.
  • Cash, cash equivalents and marketable securities totaled $202.3 million as of March 31, 2026, down $61.5 million in the quarter.

The filing

CompanyVanda Pharmaceuticals Inc. (VNDA)
Form8-K, current report
Filed with the SECMay 6, 2026, 4:06 PM ET
Accession number0001628280-26-031241

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 06, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.