Businessweek

Vanda Pharmaceuticals, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, total revenue was 8.068 million against $8.141 million a year ago. Loss from operations was $1.129 million against $8.317 million a year ago. Loss before tax benefit was $4.173 million against $7.962 million a year ago. Net loss was $4.173 million or $0.15 per diluted share against $7.962 million or $0.28 per diluted share a year ago.

On April 25, 2013, Vanda Pharmaceuticals Inc. and Bristol-Myers Squibb entered into an amendment to the amended and restated license, development and commercialization agreement, dated as of February 25, 2004, as amended, by and between Vanda and BMS relating to certain compounds, including tasimelteon, which Vanda is currently developing for the treatment of Non-24-Hour Disorder. Under the Agreement, Vanda must enter into a development and commercialization agreement with a third party for tasimelteon by the earliest of: (i) the date mutually agreed upon by both parties following the provision by Vanda to BMS of a full written report of the Phase III clinical studies on which Vanda intends to rely for filing for marketing authorization for tasimelteon in its first major market country; (ii) the date of the acceptance by a regulatory authority of the filing by Vanda for marketing authorization for tasimelteon in a major market country following the provision by Vanda to BMS of the Phase III report; or (iii) December 31, 2013. If Vanda has not entered into such an agreement with respect to certain major market countries by this deadline, then BMS will have the option to develop and commercialize tasimelteon itself in those countries not covered by a development and commercialization agreement on certain pre-determined terms (the BMS Option). Under the Amendment, the parties added to the agreement a process that would allow BMS, prior to such deadline, to waive such right to develop and commercialize tasimelteon in those countries not covered by a development and commercialization agreement, by providing Vanda with written notice that it does not wish to develop and commercialize tasimelteon itself in those countries. On April 25, 2013, subsequent to the execution of the amendment, BMS provided Vanda with formal written notice that it irrevocably waived the BMS Option to exercise the right to reacquire any or all rights to any Product containing tasimelteon, or to develop or commercialize any such product, in the countries not covered by a development and commercialization agreement.

Vanda Pharmaceuticals, Inc., Q1 2013 Earnings Call, May 09, 2013

Vanda Pharmaceuticals, Inc. announced that they will report Q1, 2013 results at 9:00 AM, Eastern Standard Time on May 09, 2013

Vanda Pharmaceuticals, Inc. announced that it has named Paolo Baroldi, M.D., Ph.D. as its Senior Vice President and Chief Medical Officer. Dr. Baroldi has over 30 years of clinical development experience in many therapeutic areas, including neurology and psychiatry. He has been working in the role of acting Chief Medical Officer with Vanda since October 1, 2012. Dr. Baroldi previously served as the Senior Vice President and Chief Medical Officer of Vanda from July 2006 through January 2009. He has served in senior clinical development positions at Galileo Research, Supernus Pharmaceuticals, Chiesi Farmaceutici SpA, and Novartis AG.