- Vanda Pharmaceuticals (NASDAQ:VNDA) announces preliminary unaudited financial results for Q4 and FY2016 and its financial guidance for 2017 as follows:
- Vanda expects to report Q4 and FY2016 total net product sales of ~$38M and ~$146M respectively, consistent with Vanda's prior FY2016 guidance of $143M - $153M.
- Q4 and FY2016 HETLIOZ net product sales of ~$19M and ~$72M respectively, as compared to prior FY2016 guidance of $73M - $78M.
- Q4 and FY2016 Fanapt net product sales of ~$19M and ~$74M respectively, as compared to prior FY2016 guidance of $70M - $75M.
- Cash, cash equivalents and marketable securities of ~$141M, a decrease of ~$2M.
- The company also expects following 2017 financial guidance: Net product sales of $165M - $175M, HETLIOZ net product sales of $88M - $93M, Fanapt net product sales of $77M - $82M. Non-GAAP Operating expenses of $162M - $172M.
- Shares are up 4% premarket.