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Vanda Pharmaceuticals Announces FDA Update for supplemental NDA for HETLIOZ® in the Treatment of Insomnia Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA) today announced that on March 4, 2024, it received a Complete Response Letter (CRL) from the U.S....

Key Takeaway: Vanda Pharmaceuticals announced that it received a Complete Response Letter from the FDA regarding its supplemental New Drug Application for HETLIOZ in treating insomnia. The FDA's letter indicates that the application cannot be approved in its current form due to identified deficiencies. Vanda is currently reviewing the CRL and considering its next steps.
Price reaction · baseline $4.14 (2024-03-05 close) · hit after-hours · clean, no other VNDA news in the window
day 0 close
-5.6%
day 1 · peak
-7.7%
day 3
-3.3%

Market Sentiment Analysis

CONCERNS & RISKS

  • Received a Complete Response Letter (CRL) from the FDA.
  • The sNDA for HETLIOZ cannot be approved in its current form.
  • FDA identified deficiencies that precluded further discussion.

BiopharmaWatch Analysis

From our catalyst data and publicly available data · not financial advice
Best trade, last catalyst
+121%
120-day peak, hindsight
Typical move
19.9%
average across 7 past catalysts
Cash runway
~16 mo
Low dilution risk
Lead asset
Imsidolimab
Phase 2 · Palmoplantar Pustulosis

Full Press Release Details

WASHINGTON , March 6, 2024 /PRNewswire/ -- Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA ) today announced that on March 4, 2024 , it received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) as part of its ongoing review of Vanda's supplemental New Drug Application (sNDA) for HETLIOZ ® (tasimelteon) in the treatment of insomnia characterized by difficulties with sleep initiation.
In July 2023 , the FDA had assigned a Prescription Drug User Fee Act target date of March 4, 2024 for the completion of its review of the sNDA. As previously reported, on February 4, 2024 , the FDA provided a notification stating that it identified deficiencies that precluded discussion of labeling and postmarketing requirements/commitments. Consistent with that notification, the FDA has issued a CRL, indicating that the FDA cannot approve the sNDA in its present form.
Vanda is reviewing the CRL and evaluating its next steps.
About Vanda Pharmaceuticals Inc.
Vanda is a leading global biopharmaceutical company focused on the development and commercialization of innovative therapies to address high unmet medical needs and improve the lives of patients. For more on Vanda Pharmaceuticals Inc., please visit www.vandapharma.com and follow us on X @vandapharma.
About HETLIOZ ®
For full U.S. Prescribing Information for HETLIOZ ® , including indication and Important Safety Information, visit www.hetlioz.com .
Corporate Contact:

Frequently Asked Questions

What is the recent FDA update for HETLIOZ?

Vanda Pharmaceuticals received a Complete Response Letter from the FDA for HETLIOZ.

What does the Complete Response Letter mean?

The CRL indicates that the FDA cannot approve the sNDA for HETLIOZ in its current form.

What deficiencies did the FDA identify?

The FDA identified deficiencies that precluded discussion of labeling and postmarketing requirements.

What is Vanda's next step after the CRL?

Vanda is currently reviewing the CRL and evaluating its next steps.

Last updated: Mar 6, 2024