Vanda Pharmaceuticals Reports First Quarter 2019 Financial Results

Thursday, May 2, 2019 General News
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- Total net product sales of $47.7 million in the first quarter of 2019, a 9% increase year over year

VANDA PHARMACEUTICALS INC.

Reconciliation of GAAP to Non-GAAP Financial Information

(in thousands, except for share and per share amounts)

(unaudited)

Three Months Ended

March 31

March 31

2019

2018

Net income (loss)

$

(612)

$

3,066

Adjustments:

     Stock-based compensation

3,282

3,151

     Intangible asset amortization

380

352

Non-GAAP Net income

$

3,050

$

6,569

Non-GAAP Net income per share, basic

$

0.06

$

0.14

Weighted average shares outstanding, basic

52,752,774

46,336,430

Operating expenses

$

49,800

$

41,150

Adjustments:

     Cost of goods sold excluding amortization 

(5,113)

(4,560)

     Stock-based compensation

(3,282)

(3,151)

     Intangible asset amortization

(380)

(352)

Non-GAAP Operating expenses excluding 

     Cost of goods sold

$

41,025

$

33,087

Research and development

$

13,278

$

9,416

Adjustment:

     Stock-based compensation

(728)

(321)

Non-GAAP Research and development

$

12,550

$

9,095

Selling, general and administrative

$

31,029

$

26,822

Adjustment:

     Stock-based compensation

(2,554)

(2,830)

Non-GAAP Selling, general and administrative

$

28,475

$

23,992



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