Vanda Pharma Q1 revenue misses estimates, lifts 2026 outlook

Vanda Pharmaceuticals

06/05/2026 21:11

Overview

US biopharma firm's Q1 revenue rose 3% yr/yr but missed analyst expectations

Fanapt sales jumped 26% yr/yr, while HETLIOZ sales fell 24%

Company raised 2026 revenue guidance to $240-$290 mln, citing NEREUS launch

Outlook

Vanda raises full-year 2026 revenue guidance to $240-$290 mln

Company expects NEREUS net product sales of $10-$30 mln in 2026

FDA review of imsidolimab for Generalized Pustular Psoriasis, decision expected December 12, 2026

Result Drivers

FANAPT PRESCRIPTION GROWTH - Fanapt sales rose 26% yr/yr, driven by a 32% increase in total prescriptions and a 76% surge in new-to-brand prescriptions

NEREUS LAUNCH - Co launched NEREUS nationwide via a direct-to-consumer platform, aiming to expand access and drive future sales

HIGHER OPERATING EXPENSES - Increased investment in new product launches and pipeline advancement contributed to a wider net loss

Company press release: ID:nPn7DTlVNa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$51.72 mln
$54.98 mln (5 Analysts)
Q1 EPS
-$0.82
Q1 Net Income
-$48.57 mln
Q1 Basic EPS
-$0.82
Q1 Operating Expenses
$101.94 mln
Q1 Operating Income
-$50.22 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for Vanda Pharmaceuticals Inc is $17.00, about 130% above its May 5 closing price of $7.39

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)