Dallas, Texas 11/21/2013 (Financialstrend) – In Wednesday’s trading session, Vanda Pharmaceuticals Inc (NASDAQ:VNDA) dropped by 3.09%. The opening price of the shares was $12.03, which climbed to an intraday high of $12.19 and headed to close at $11.62. Around 0.886M shares were exchanged on Wednesday while the average-volume of 2.47 million shares were traded over a 30 day period. The 52-week low of Vanda Pharmaceuticals Inc (NASDAQ:VNDA) shares is $3.00 while the 52-week high is $15.65. The company has a market capitalization of $385.67 million.
About the company
Vanda Pharmaceuticals Inc (NASDAQ:VNDA was formed on 13th November 2002 and is a bio-pharmaceutical company. It focuses on developing and commercializing products that are used to treat disorders in the central nervous system. Vanda Pharmaceuticals Inc (NASDAQ:VNDA) product-portfolio includes tasimelteon- this is a compound that is used to treat circadian rhythm-sleep disorders (CRSD). It is in clinical-development for Non-24. The company’s other product- Fanapt is a compound that is used to treat schizophrenia. It is an oral formulation that is being marketed & sold in the U.S by Novartis Pharma AG. The other drug is VLY-686- this is a small molecule neurokinin-1-receptor (NK-1R)-antagonist.
Tasimelteon is a circadian-regulator that is in development treating Non-24. Tasimelteon is the melatonin agonist of the human-MT1 & MT2 receptors that has a greater specificity of MT2. Tasimelteon’s ability to be able to reset the master body-clock in the suprachiasmatic-nucleus (SCN), that is located in the hypothalamus, leads to the entrainment of the body melatonin & cortisol rhythms and aligns to the 24-hour day & night cycle. Tasimelteon has also shown to significantly-improve clinical symptoms in numerous sleep &wake measures.
Fanapt is the compound that is used to treat schizophrenia. Novartis has the exclusive commercialization rights to formulations of Fanapt in the U.S and Canada. Novartis is also responsible for the further clinical-development activities in the U.S and Canada