Vanda
Washington, US Β· Public Β· 2 known investors
Vanda is a biopharmaceutical company that develops new medicines, using genetics and genomics to guide drug discovery, clinical trials, and commercial positioning of its compounds. It works to advance novel approaches for delivering these medicines to patients.
Also known as Vanda Pharmaceuticals Inc. Β· VNDA
Founders & leadership
Investors Β· 2
Company profile
researched Aug 2026Vanda Pharmaceuticals Inc. is a global biopharmaceutical company headquartered in Washington, DC that develops and commercializes medicines for central nervous system and other disorders. The company applies advanced scientific methodology, including genetics and genomics, to inform drug discovery, clinical trial design and the commercial positioning of its compounds, and works on novel approaches to delivering these medicines to patients.
Its marketed products include Fanapt (iloperidone), an atypical antipsychotic for schizophrenia that received its first FDA approval in 2009, and Hetlioz (tasimelteon), a first-in-class treatment for Non-24-Hour Sleep-Wake Disorder approved by the FDA in 2014 and by the EMA in the EU in 2015. The pipeline includes the neurokinin 1 receptor (NK1R) antagonist tradipitant, studied in atopic dermatitis and gastroparesis; tasimelteon for Smith-Magenis Syndrome and Jet Lag Disorder; a one-month injectable formulation of iloperidone for schizophrenia; and an oncology program based on Trichostatin A (TSA) for hematologic malignancies in patients who have failed prior treatments. Vanda also applies genetic technologies to identify factors that may improve the efficacy and safety of its products.
Founding story
Mihael H. Polymeropoulos, MD, founded Vanda in 2003 and serves as President, Chief Executive Officer and Chairman of the Board. The company was established in partnership with Care Capital LLC, a biopharmaceuticals-focused investment firm, and Bio*One Capital, an investment arm of the Singapore government focused on new biomedical enterprises. Vanda was founded on the principle of applying advanced scientific methodology to the development of therapeutics.
Business model
Vanda develops, obtains regulatory approval for and commercializes prescription medicines, building a commercial presence around approved products such as Fanapt and Hetlioz while advancing additional candidates and indications through clinical development.
Revenue is generated from sales of its approved prescription products; company statements in 2024 referenced a significant cash balance and robust revenue.
Latest developments
In February 2024 the FDA rejected Vanda's application for Hetlioz in insomnia, and the company disputed the decision as violating the Federal Food, Drug, and Cosmetic Act. Future Pak made unsolicited proposals beginning in March 2024 at $7.25-$7.75 per share, later adding contingent value rights, and Cycle Pharmaceuticals offered $8.00 per share (about $466 million total cash consideration); Vanda's board rejected both in June 2024. In October 2024 Vanda rejected a second Cycle proposal at $8.00 per share, filed September 23, 2024, which Cycle said represented an 80% premium to the October 11, 2024 close and a fully diluted equity value of $488 million. This followed an FDA rejection of tradipitant for gastroparesis, which Vanda challenged while continuing to pursue approval and maintain its expanded access program.
βΈFull profile β market position, technology, go-to-market, geography, history, risks & controversies
Market position
Vanda describes itself as a leading global biopharmaceutical company; it is publicly traded on NASDAQ and, in 2024, was the target of competing acquisition proposals valuing it at up to a fully diluted equity value of $488 million at $8.00 per share.
Technology
Vanda applies new technologies, including genetics and genomics, to drug discovery, clinical trial design and commercial positioning, and pursues genetic factors that may enhance the efficacy and safety of its products. Its assets include small molecules such as iloperidone, tasimelteon, tradipitant (an NK1R antagonist) and Trichostatin A, as well as alternative delivery formats such as a one-month injectable iloperidone.
Go-to-market
Patients with central nervous system and related conditions, including schizophrenia, Non-24-Hour Sleep-Wake Disorder, Smith-Magenis Syndrome, Jet Lag Disorder, atopic dermatitis, gastroparesis, and hematologic malignancies, reached through prescribing physicians.
Geography
Headquartered in Washington, DC, United States, with international activity including EU marketing authorization for Hetlioz and a German affiliate (Vanda Germany) that reports payments to patient organizations.
History
Founded in 2003 in Washington, DC, Vanda listed on NASDAQ under the ticker VNDA in 2006. It obtained its first FDA approval in 2009 for Fanapt (iloperidone) for schizophrenia, followed in 2014 by FDA approval of Hetlioz (tasimelteon) for Non-24-Hour Sleep-Wake Disorder and an EMA approval in the EU in 2015. The company subsequently expanded its pipeline with tradipitant, additional tasimelteon indications, a long-acting injectable iloperidone and an oncology program. In 2024 Vanda faced FDA rejections of Hetlioz for insomnia (February 2024) and of tradipitant for gastroparesis, and rejected a series of unsolicited takeover proposals from Future Pak and Cycle Pharmaceuticals.
Risks & controversies
Vanda has had repeated regulatory setbacks and public disputes with the FDA, including the February 2024 rejection of Hetlioz for insomnia and the 2024 rejection of tradipitant for gastroparesis; the latter followed a failed Phase III trial and previously unaddressed FDA concerns, with some analysts calling the rejection unsurprising. Vanda has publicly accused the FDA of issuing delayed decisions in violation of the FDCA. The company has also been the subject of repeated unsolicited takeover attempts by Future Pak and Cycle Pharmaceuticals, with Cycle publicly urging Vanda shareholders to support its offer.
Compiled by commissioned research from 5 cited public sources β announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed β not independently audited.
Timeline Β· 9
launches, deals, and filingsVanda announced rejection of a second unsolicited, non-binding takeover proposal from Cycle Pharmaceuticals, filed September 23, 2024, at $8.00 per share; Cycle said this represented an 80% premium to Vanda's October 11, 2024 close and a fully diluted equity value of $488 million. Vanda's board called it an opportunistic attempt to buy shares at a discount to intrinsic value.
$488M source β
Vanda announced that its board rejected unsolicited takeover offers from Cycle Pharmaceuticals ($8.00 per share, about $466 million total cash consideration) and Future Pak, saying the proposals substantially undervalue the company.
$466M source β
Future Pak made several unsolicited proposals to acquire Vanda for $7.25 to $7.75 per share; Vanda rejected the offer in April 2024 and Future Pak made a further bid in May 2024 adding certain contingent value rights.
The FDA turned down Vanda's application for Hetlioz (tasimelteon) for the treatment of insomnia characterized by difficulty initiating sleep; Vanda said the agency cited no deficiencies and claimed the decision violated the FDCA. The application had been filed on May 4, 2023.
The FDA rejected Vanda's application for the NK-1R antagonist tradipitant in gastroparesis. Vanda challenged the decision as delayed and inconsistent with the FDCA and said it would continue seeking approval and sustain its expanded access program.
Hetlioz (tasimelteon) received EMA approval in the European Union.
Vanda obtained FDA approval for Hetlioz (tasimelteon), a first-in-class drug for the treatment of Non-24-Hour Sleep-Wake Disorder.
Vanda obtained its first FDA approval for Fanapt (iloperidone), an atypical antipsychotic for the treatment of patients with schizophrenia.
Vanda has been a NASDAQ-traded company under the ticker VNDA since 2006.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
βΈResearch sources Β· 5
primary sources listed
- Vandavandapharma.com Β· web
5 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Vanda do?
- Vanda Pharmaceuticals is a NASDAQ-listed global biopharmaceutical company developing and marketing medicines for CNS and other disorders.
- Who founded Vanda?
- Vanda was founded by Mihalis Polymeropoulos, Mihael Polymeropoulos.
- Who are Vanda's investors?
- Vanda's investors include Care Capital, Rho Ventures.
- Where is Vanda headquartered?
- Vanda is headquartered in Washington, US.