Vanda Pharmaceuticals Q2 loss widens on lower sales, higher costs

Vanda Pharmaceuticals

05/08/2026 21:10

Overview
U.S. biopharma firm's Q2 net product sales fell 4% yr/yr as HETLIOZ sales declined
Fanapt Q2 net product sales rose 23% yr/yr, offset by weaker HETLIOZ performance
Company posted $62.5 mln net loss in Q2, bigger than year-ago, citing higher spending on launches and pipeline

Outlook
Vanda sees full-year 2026 total revenue of $240-$290 mln
Company expects operating expenses to begin decreasing by end-2026 and more in 2027
Vanda expects to fund operations through at least end-2027

Result Drivers
FANAPT GROWTH - Fanapt net product sales rose 23% yr/yr, driven by expanded use following approval for bipolar disorder
HETLIOZ SALES DECLINE - HETLIOZ net product sales fell 66% yr/yr, with company noting $7 mln in late-shipped orders will be recognized in Q3
HIGHER OPERATING EXPENSES - Operating expenses rose due to investments in new product launches and pipeline advancement

Company press release: ID:nPn1W2GgVa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Loss Per Share
 
$1.04
 
Q2 Net Loss
 
$62.51 mln
 
Q2 Loss Per Basic Share
 
$1.04
 
Q2 Operating Expenses
 
$114.34 mln
 
Q2 Operating Income
 
-$63.81 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "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 $14.00, about 162.7% above its August 4 closing price of $5.33

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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.)