Dallas, Texas 11/18/2013 (Financialstrend) – In Friday’s trading session, Vanda Pharmaceuticals Inc (NASDAQ:VNDA) rose by 11.86 %. The shares opened at a price of $15.29, which touched the intraday high of $15.64 and headed to a close of $14.59. Around 10.02 million exchanged hands over the trading day and an average volume of 2.30 million shares were traded over a 30 day period. The 52-week low of Vanda Pharmaceuticals Inc (NASDAQ:VNDA) shares is $2.99 and its 52-week high is $15.65. The company has a market capitalization of $415.46 million.
About the company
Vanda Pharmaceuticals Inc (NASDAQ:VNDA) was incorporated on 13 November, 2002 and is a bio-pharmaceutical company. It is focused on developing & commercializing products that are used or the treatment of various central-nervous system disorders. Vanda Pharmaceuticals Inc (NASDAQ:VNDA)’s product-portfolio includes tasimelteon. This is a compound that is used the treatment of circadian-rhythm sleep disorders.
It is in clinical-development for Non-24. In addition to this the company also manufactures Fanapt. This is a compound that is used to treat schizophrenia. It is an oral-formulation that is marketed & sold in the U.S. by Novartis Pharma & VLY-686, which is a small-molecule-neurokinin-1 receptor (NK-1R) antagonist.
Tasimelteon is a circadian-regulator that is in development for treatment of Non-24. It is a melatonin-agonist of the human MT1 & MT2 receptors, with a greater-specificity for MT2. Tasimelteon’s has the ability to reset the master-body clock in the suprachiasmatic-nucleus. This is situated in the hypothalamus. This results in entrainment of the body’s melatonin & cortisol rhythms to align itself to the 24-hour day-night-cycle. Tasimelteon was also indicated to significantly- improve clinical symptoms in numerous sleep & wake measures.
Fanapt is the compound that is used in the treatment of schizophrenia. Novartis has the exclusive commercialization-rights to all the Fanapt formulations in the United States & Canada.