Vanda Pharmaceuticals (VNDA -1.6%) dips after receiving a thumbs down from the European...

|About: Vanda Pharmaceuticals Inc. (VNDA)|By:, SA News Editor

Vanda Pharmaceuticals (VNDA -1.6%) dips after receiving a thumbs down from the European Medicines Agency's Committee for Medicinal Product for Human Use recommending against the approval of VNDA's schizophrenia treatment, Fanaptum. The agency says, in a nutshell, the benefits didn't outweigh the risks. The drug developer says it intends to appeal and request a re-examination of the decision.