Boston, MA 05/28/2013 (wallstreetpr) – In Friday’s trading session, Vanda Pharmaceuticals Inc (NASDAQ:VNDA) rose by 17.70%. It opened at $7.12 per share, touched an intraday high of $8.75 and dropped down to close at $7.11 per share. More than 2.59 million shares were traded in Friday’s trading session. This number stood above the average volume of 0.541 million that was measured over a 30-day period.
Vanda Pharmaceuticals Inc. (Vanda) is a bio-pharma company. It focuses on developing and commercializing products that are used for the treatment of for central nervous system disorders. Vanda Pharmaceuticals Inc (NASDAQ:VNDA) products include Fanapt. This compound is used in the treatment of schizophrenia. The compound named Tasimelteon is used in the treatment of mood and sleep disorders. These include Circadian Rhythm Sleep Disorders.
Novartis holds exclusive commercialization rights to all the formulations of Fanapt within the United States as well as in Canada. Novartis is responsible for its further clinical development activities in Canada and the United States. These include developing a long-acting injectable formulation of Fanapt. Novartis conducted a two-month long Phase I and II safety trial of this particular formulation in numerous schizophrenia patients. The trials demonstrated the benefits of consistent release period of four-weeks. No greater, side effects in comparison to oral dosing, were noted.
Vanda Pharmaceuticals Inc (NASDAQ:VNDA) competes with Ortho-McNeil-Janssen Pharmaceuticals, Pfizer Inc., AstraZeneca PLC, Inc., Eli Lilly and Company, BMS/Otsuka Pharmaceutical Co., Ltd., Dainippon Sumitomo Pharma, Schering-Plough, Sanofi-aventis, Takeda Pharmaceuticals Company Limited, Somaxon Pharmaceuticals, Inc., Lundbeck A/S /Forest Pharmaceuticals Inc., GlaxoSmithKline (GSK), Les Laboratories Servier and Forest Laboratories, Inc.
