Vanda Pharmaceuticals (VNDA) 44th Annual J.P. Morgan Healthcare Conference summary

Company overview and commercial portfolio

• Focuses on innovation-led strategy with four FDA-approved brands and a robust late-stage pipeline.

• Maintains a debt-free balance sheet, enabling significant R&D and commercial investment.

• Plans to grow and diversify revenue, aiming for six commercial products by end of 2026.

• Commercial portfolio includes Fanapt (antipsychotic), HETLIOZ (sleep disorders), PONVORY (multiple sclerosis), and NEREUS (motion sickness).

Pipeline and regulatory milestones

• Multiple programs in regulatory review and phase III, including Bysanti and NEREUS.

• Bysanti NDA under review for bipolar disorder and schizophrenia, with a PDUFA date in February 2026.

• HETLIOZ pursuing additional indications, including insomnia and jet lag disorder.

• NEREUS phase III for GLP-1 induced vomiting to start in first half of 2026; Bysanti phase III for MDD results expected in 2026.

• Imsidolimab BLA submitted for GPP, with potential approval and launch in 2026.

Market opportunities and growth drivers

• NEREUS is the first new pharmacologic motion sickness treatment in over 40 years, targeting a U.S. patient population of 12 million.

• Significant opportunity for NEREUS as adjunct therapy in the $50B+ GLP-1 market, with phase II data showing 50% reduction in symptoms.

• Bysanti label expansion to MDD could open access to over 20 million patients.

• HETLIOZ remains market leader in SMS despite generic competition.

• Imsidolimab targets an orphan GPP population with established orphan pricing and efficient commercialization.