Boston, MA 05/20/2013 (wallstreetpr) – Friday’s trading session saw Vanda Pharmaceuticals Inc (NASDAQ:VNDA) climbing up by 19.64%. It opened at a price of $6.18 which reached an intraday high of $7.23 before heading down to close at $6.00 per share. In excess of 3.38 million shares exchanged hands in the previous trading session, which was above the average volume of 0.293 million that was measured over a 30-day period.
On 9 May, VNDA announced its operational and financial results for the Q1 that ended 31 March 2013. The total revenues for the 2013 Q1 were $8.1 million and it was the same in the 2012 Q1 as well. Vanda Pharmaceuticals Inc (NASDAQ:VNDA) recorded a $4.2 million net loss for the 2013 first-quarter in comparison to the $8.0 million net loss that it had incurred in the same period in 2012. The diluted net loss per share for the 2013 Q1 was $0.15 in comparison to the $0.28 diluted net loss per share for the 2012 Q1.
VNDA is a bio-pharma company that focuses on the development as well as the commercialization of products that are used in the treatment of central nervous system disorders. Its products include the compound used in the treatment of schizophrenia and Tasimelteon, Fanapt. This compound is used for treating mood and sleep mood disorders such as CRSD or Circadian Rhythm Sleep Disorders. Fanapt is a compound used in the treatment of schizophrenia. Novartis holds exclusive commercialization rights for all Fanapt formulations, in Canada and the United States.
