Vanda Pharmaceuticals Inc 2026年季度报告

Form 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the transition period fromtoCommission File Number: 001-34186 VANDA PHARMACEUTICALS INC. (Exact name of registrant as specified in its charter) 03-0491827(I.R.S. EmployerIdentification No.) Delaware(State or other jurisdiction ofincorporation or organization) 2200 Pennsylvania Avenue NW, Suite 300EWashington, DC 20037(202) 734-3400(Registrant’s telephone number, including area code) Securities registered pursuant to Section12(b) of the Exchange Act: Trading Symbol(s)VNDA Title of Each Class Name of Exchange on Which Registered Common Stock, par value $0.001 per share The Nasdaq Global Market Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90 days.YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Accelerated filerNon-accelerated filer☐Smallerreportingcompany☐Emerginggrowthcompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐NoAs of April30, 2026, there were 60,135,562 shares of the registrant’s common stock issued and outstanding. Vanda Pharmaceuticals Inc. Quarterly Report on Form 10-QFor the Quarter Ended March 31, 2026 Table of Contents PART I – FINANCIAL INFORMATIONITEM1Financial Statements (Unaudited)5Condensed Consolidated Balance Sheets as ofMarch 31, 2026 andDecember 31, 20255Condensed Consolidated Statements of Operations for the three months endedMarch 31, 2026 and 20256Condensed Consolidated Statements of Comprehensive Loss for the three months endedMarch 31, 2026 and20257Condensed Consolidated Statements of Changes in Stockholders’ Equity for thethreemonths endedMarch 31,2026 and 20258Condensed Consolidated Statements of Cash Flows for the three months endedMarch 31, 2026 and 20259Notes to Condensed Consolidated Financial Statements10ITEM2Management’s Discussion and Analysis of Financial Condition and Results of Operations26ITEM3Quantitative and Qualitative Disclosures about Market Risk35ITEM4Controls and Procedures35PARTII– OTHER INFORMATIONITEM1Legal Proceedings35ITEM1A Risk Factors35ITEM2Unregistered Sales of Equity Securities and Use of Proceeds36ITEM3Defaults Upon Senior Securities36ITEM4Mine Safety Disclosures36ITEM5Other Information36ITEM6Exhibits37Signatures38 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This quarterly report on Form 10-Q (Quarterly Report) contains “forward-looking statements” within the meaning of Section 27A ofthe Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended(Exchange Act). Words such as, but not limited to, “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “project,” “target,”“goal,” “likely,” “will,” “would,” and “could,” or the negative of these terms and similar expressions or words, identify forward-looking statements. Forward-looking statements are based upon current expectations and assumptions that involve risks, changes incircumstances and uncertainties. If the risks, changes in circumstances or uncertainties materialize or the assumptions prove incorrect,the results of Vanda Pharmaceuticals Inc. (we, our, the Company or Vanda) may differ materially from those expressed or implied bysuch forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The forward-looking statements in this Quarterly Report may include, but are not limited to, statements about: •our ability to continue to generate United States (U.S.) sales of Fanapt(iloperidone) oral tablets for the treatment ofschizophrenia and the