Vanda Pharmaceuticals Inc. (VNDA) Stock

Vanda Pharmaceuticals Inc. (VNDA) is a Healthcare stock trading at $5.29 (as of 2026-08-21), with a market capitalization of $318.12M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Vanda Pharmaceuticals Inc. is a biopharmaceutical company that develops and commercializes therapies for conditions including non-24-hour sleep-wake disorders and schizophrenia, with marketed products such as HETLIOZ and Fanapt. The company also has additional product candidates in development across sleep and psychiatric disorders and other therapeutic areas.

Understand Vanda Pharmaceuticals Inc.: how it makes money

Vanda Pharmaceuticals develops and commercializes biopharmaceutical therapies, with marketed products that include HETLIOZ for non-24-hour sleep-wake disorders and Fanapt for schizophrenia, and it makes money by selling these therapies and extending commercialization through its sales and specialty sales efforts.

The profit engine is converting marketed-brand demand into prescriptions, supported by sales force activity and awareness programs, with brand prescription trends (for example, Fanapt) acting as a key readout of commercial traction.

Business quality (Weak): Clear operating focus on prescription growth and sales execution, but limited visibility on long-run profitability given continued operating losses.

Bull case

  • Prescription growth signal: New To Brand Prescriptions were 147 percent (3 implied importance).
  • Commercial execution effort: Fanapt Prescriber Awareness Programs Completed were 1,400 (3 implied importance), and Fanapt Sales Force Representatives were 300 (3 implied importance).
  • Pipeline expansion across sleep and psychiatric indications: HETLIOZ (tasimelteon) is in development for multiple disorders, and Fanapt (iloperidone) is in development for bipolar disorder and a long acting injectable (details provided in company description).

Bear case

  • Branded demand softness: Fanapt Prescriptions Percent Decrease vs. 2023 Period was 4.0 percent (3 implied importance).
  • Dependence risk on a small set of marketed products: The marketed product set described is concentrated around HETLIOZ and Fanapt, so commercial results may be sensitive to brand-level prescription trends.
  • Ongoing losses: Operating margin was -97.1 percent for the period ended 2026-03-31 (reported in the provided facts).
Valuation — source: SEC EDGAR (first-party)
Price$5.29
Market Cap$318.12M
Price / Book1.13
Price / Sales1.51
FCF Yield-67.3%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$216.10M
Net Margin-102.0%
Revenue Growth (YoY)8.7%
EPS Growth (YoY)1033.3%
FCF Growth (YoY)579.8%
Financial Health — source: SEC EDGAR
Altman Z-Score-0.05 (distress)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.7
Industry P/E (Pharmaceutical Products)17.2
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($50.28M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryPharmaceutical Products
CEOMihael H. Polymeropoulos
Employees368
CountryUS
IPO Date2006-04-12

Related Companies (Business model: Biotech (Clinical / Commercial-Stage); 8 closest by market cap; US-domiciled)

  • DiaMedica Therapeutics Inc. (DMAC)
  • Abeona Therapeutics Inc. (ABEO)
  • Immuneering Corporation (IMRX)
  • Opus Genetics, Inc. (IRD)
  • Rockwell Medical, Inc. (RMTI)
  • Cartesian Therapeutics, Inc. (RNAC)
  • Entrada Therapeutics, Inc. (TRDA)
  • Fulcrum Therapeutics, Inc. (FULC)
VNDA earnings history · VNDA institutional & insider holders · VNDA KPIs & operating metrics · VNDA financials · VNDA investor presentations & press releases · VNDA SEC filings · VNDA peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.