Vanda Pharmaceuticals Inc. Q1 FY2026 earnings call

CEO mentioned strong commercial execution in Q1 2026, including 26% YOY growth in FNAF sales, launch of Nereus, and FDA approval of Bisanti. CFO summarized financial results, with total revenues at $51.7 million, and detailed breakdowns by product segments, operating expenses, and cash position.

FNAP net product sales were $29.6 million in Q1 2026, a 26% year-over-year increase. Hetlios net product sales were $15.9 million, a 24% decrease year-over-year. Ponvory net product sales were $6.2 million, a 10% increase year-over-year. Total net product sales reached $51.7 million in Q1 2026, a 3% increase from Q1 2025.

Vanda raises full-year 2026 revenue guidance to $240-$290 million, including $10-$30 million from newly launched Nereus. FNAP net product sales expected to be between $150 and $170 million. Other net product sales between $80 and $90 million. Nereus net product sales between $10 and $30 million.

Risks include forward-looking statement risks, revenue fluctuations due to market competition, uncertainties in product launches, and risks related to pipeline study progress.

Q: Run through what the pushes and pulls are for Nereus' 10-30 million guidance range and Bisanti's launch progress.

A: It's early for Nereus launch, range based on market modeling. Bisanti launch on track in back half of 2026.

Q: Color on Tredipitant study timeline and expectations.

A: Results by end of 2026, similar design to Phase 2 with positive results.