$VNDA
Vanda Pharmaceuticals Inc.

2015 Q3 Form 10-Q Financial Statement

#000119312515271844 Filed on July 31, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2014 Q4
Revenue $28.34M $27.58M $15.37M
YoY Change 91.75% 153.93% 75.0%
Cost Of Revenue $6.510M $5.766M $680.0K
YoY Change 826.03% 2812.12%
Gross Profit $18.89M $18.87M $14.69M
YoY Change 34.18% 76.99%
Gross Profit Margin 66.65% 68.43% 95.56%
Selling, General & Admin $18.46M $18.39M $17.32M
YoY Change 63.49% -34.66% 74.42%
% of Gross Profit 97.71% 97.41% 117.92%
Research & Development $9.974M $5.946M $4.750M
YoY Change 169.49% 69.21% -24.24%
% of Gross Profit 52.8% 31.5% 32.34%
Depreciation & Amortization $3.000M $3.200M $700.0K
YoY Change 400.0% 300.0% 40.0%
% of Gross Profit 15.88% 16.95% 4.77%
Operating Expenses $28.43M $24.33M $22.62M
YoY Change 89.66% -23.13% 36.51%
Operating Profit -$9.541M -$5.458M $69.69M
YoY Change 558.91% -74.74% -994.53%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $80.00K $70.00K $30.00K
YoY Change 300.0% 133.33% -25.0%
Pretax Income -$9.460M -$5.390M $69.72M
YoY Change 561.54% -75.02% -999.61%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$9.461M -$5.386M $69.72M
YoY Change 563.46% -75.04% -999.95%
Net Earnings / Revenue -33.38% -19.53% 453.6%
Basic Earnings Per Share $1.85
Diluted Earnings Per Share -$222.9K -$128.4K $1.77
COMMON SHARES
Basic Shares Outstanding 42.29M shares 41.80M shares 33.90M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2015 Q2 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $144.3M $146.6M $129.8M
YoY Change 157.3% 130.62% -0.41%
Cash & Equivalents $46.79M $48.34M $60.90M
Short-Term Investments $97.53M $98.30M $68.92M
Other Short-Term Assets $275.0K $319.0K $154.0K
YoY Change 51.1% 36.32% 20.31%
Inventory $3.797M $4.962M $5.170M
Prepaid Expenses
Receivables $15.79M $15.82M $3.654M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $173.9M $174.4M $141.7M
YoY Change 168.17% 144.84% 4.51%
LONG-TERM ASSETS
Property, Plant & Equipment $4.159M $3.869M $2.437M
YoY Change 86.25% 67.34% 10.87%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $800.0K $800.0K $28.00K
YoY Change 0.0% 0.0% -94.4%
Total Long-Term Assets $46.67M $49.32M $29.97M
YoY Change 225.5% 229.86% 287.51%
TOTAL ASSETS
Total Short-Term Assets $173.9M $174.4M $141.7M
Total Long-Term Assets $46.67M $49.32M $29.97M
Total Assets $220.5M $223.7M $171.7M
YoY Change 178.55% 159.59% 19.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.900M $1.631M $835.0K
YoY Change 795.8% 557.66% 26.32%
Accrued Expenses $41.00M $43.56M $6.951M
YoY Change 500.73% 545.08% 34.19%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $45.89M $45.19M $7.786M
YoY Change 18.13% 18.02% -76.3%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.718M $3.753M $3.101M
YoY Change 3190.27% 2580.71% -95.33%
Total Long-Term Liabilities $3.718M $3.753M $3.101M
YoY Change 3190.27% 2580.71% -95.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.89M $45.19M $7.786M
Total Long-Term Liabilities $3.718M $3.753M $3.101M
Total Liabilities $74.61M $73.95M $10.89M
YoY Change -4.49% -13.3% -89.03%
SHAREHOLDERS EQUITY
Retained Earnings -$313.1M -$303.6M -$288.0M
YoY Change -12.48% -14.79% -6.55%
Common Stock $459.0M $453.3M $448.8M
YoY Change 27.93% 26.92% 27.4%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $145.9M $149.7M $160.8M
YoY Change
Total Liabilities & Shareholders Equity $220.5M $223.7M $171.7M
YoY Change 178.55% 159.59% 19.78%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2014 Q4
OPERATING ACTIVITIES
Net Income -$9.461M -$5.386M $69.72M
YoY Change 563.46% -75.04% -999.95%
Depreciation, Depletion And Amortization $3.000M $3.200M $700.0K
YoY Change 400.0% 300.0% 40.0%
Cash From Operating Activities -$4.900M $12.10M -$13.40M
YoY Change -35.53% -132.97% 9.84%
INVESTING ACTIVITIES
Capital Expenditures -$900.0K -$100.0K -$400.0K
YoY Change -66.67% 300.0%
Acquisitions
YoY Change
Other Investing Activities $600.0K $3.000M -$28.20M
YoY Change -89.66% -71.7% -57.01%
Cash From Investing Activities -$300.0K $2.900M -$28.50M
YoY Change -105.26% -72.12% -56.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $62.30M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.600M 600.0K 87.50M
YoY Change 1700.0% 17400.0%
NET CHANGE
Cash From Operating Activities -4.900M 12.10M -13.40M
Cash From Investing Activities -300.0K 2.900M -28.50M
Cash From Financing Activities 3.600M 600.0K 87.50M
Net Change In Cash -1.600M 15.60M 45.60M
YoY Change -5.88% -159.32% -158.91%
FREE CASH FLOW
Cash From Operating Activities -$4.900M $12.10M -$13.40M
Capital Expenditures -$900.0K -$100.0K -$400.0K
Free Cash Flow -$4.000M $12.20M -$13.00M
YoY Change -47.37% -133.52% 7.44%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
42285426 shares
CY2014Q2 us-gaap Deferred Revenue
DeferredRevenue
75059000
CY2014Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16994000
CY2015Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2015Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000 shares
CY2015Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
42270426 shares
CY2015Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2015Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
42270426 shares
CY2015Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q2 us-gaap Deferred Revenue
DeferredRevenue
488000
CY2015Q2 us-gaap Liabilities Current
LiabilitiesCurrent
45193000
CY2015Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1888000
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1576000
CY2015Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
43562000
CY2015Q2 us-gaap Liabilities
Liabilities
73946000
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
7085000
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
736000
CY2015Q2 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
5000000
CY2015Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
16303000
CY2015Q2 us-gaap Common Stock Value
CommonStockValue
42000
CY2015Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
453269000
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1500000
CY2015Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
3753000
CY2015Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
27000
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
14051000
CY2015Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2015Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
4475000
CY2015Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2015Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1508000
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1538000
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-303591000
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
149747000
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1616000
CY2015Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
223693000
CY2015Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
43562000
CY2015Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
1631000
CY2015Q2 us-gaap Available For Sale Securities
AvailableForSaleSecurities
98300000
CY2015Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
813000
CY2015Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
2646000
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3869000
CY2015Q2 us-gaap Assets Current
AssetsCurrent
174373000
CY2015Q2 us-gaap Other Assets Current
OtherAssetsCurrent
319000
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
10934000
CY2015Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
5363000
CY2015Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
128000
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1721000
CY2015Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
60941000
CY2015Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
44638000
CY2015Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
48337000
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1721000
CY2015Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1778000
CY2015Q2 us-gaap Assets
Assets
223693000
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
5885000
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
22656000
CY2015Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6956000
CY2015Q2 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
410000
CY2015Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
15818000
CY2015Q2 us-gaap Prepaid Insurance
PrepaidInsurance
928000
CY2015Q2 us-gaap Inventory Net
InventoryNet
4962000
CY2015Q2 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
98300000
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1721000
CY2015Q2 vnda Number Of Stock Incentive Plans
NumberOfStockIncentivePlans
2 EquityPlan
CY2015Q2 vnda Accrued Research And Development Expense
AccruedResearchAndDevelopmentExpense
1953000
CY2015Q2 vnda Accrued Liabilities Sales Allowances Current
AccruedLiabilitiesSalesAllowancesCurrent
28738000
CY2015Q2 vnda Milestone Obligation Under License Agreement
MilestoneObligationUnderLicenseAgreement
25000000
CY2015Q2 vnda Prepaid Manufacturing Costs
PrepaidManufacturingCosts
346000
CY2013Q4 us-gaap Deferred Revenue
DeferredRevenue
90275000
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
64764000
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000 shares
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
41486361 shares
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
41486361 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2014Q4 us-gaap Deferred Revenue
DeferredRevenue
174000
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
7786000
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
388000
CY2014Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6951000
CY2014Q4 us-gaap Liabilities
Liabilities
10887000
CY2014Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
602000
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
9217000
CY2014Q4 us-gaap Common Stock Value
CommonStockValue
41000
CY2014Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
448744000
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
3101000
CY2014Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
16000
CY2014Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2014Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2522000
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2014Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1185000
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-287984000
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
160817000
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
171704000
CY2014Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
6951000
CY2014Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
835000
CY2014Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
68921000
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
813000
CY2014Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
3394000
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2437000
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
2960000
CY2014Q4 us-gaap Assets Current
AssetsCurrent
141730000
CY2014Q4 us-gaap Other Assets Current
OtherAssetsCurrent
154000
CY2014Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
2302000
CY2014Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
198000
CY2014Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
35941000
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
15940000
CY2014Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
26724000
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
60901000
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
91000
CY2014Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1326000
CY2014Q4 us-gaap Assets
Assets
171704000
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3084000
CY2014Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
252000
CY2014Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
3654000
CY2014Q4 us-gaap Prepaid Insurance
PrepaidInsurance
270000
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
18991000
CY2014Q4 us-gaap Inventory Net
InventoryNet
5170000
CY2014Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
68921000
CY2014Q4 vnda Accrued Research And Development Expense
AccruedResearchAndDevelopmentExpense
1759000
CY2014Q4 vnda Accrued Liabilities Sales Allowances Current
AccruedLiabilitiesSalesAllowancesCurrent
495000
CY2014Q4 vnda Prepaid Manufacturing Costs
PrepaidManufacturingCosts
358000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M29D
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3805191 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0177 pure
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-60569000
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.42
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.14
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33777207 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.64 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
-96000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
20544000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-48119000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
378000
us-gaap Licenses Revenue
LicensesRevenue
15216000
us-gaap Operating Income Loss
OperatingIncomeLoss
-48184000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1093000
us-gaap Revenues
Revenues
20005000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
345000
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-245000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1559000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
436000
us-gaap Other Income
OtherIncome
76000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1463000
us-gaap Net Income Loss
NetIncomeLoss
-48108000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-11000
us-gaap Royalty Revenue
RoyaltyRevenue
3230000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-11000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
31235000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
2043000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1182000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
264000
us-gaap Advertising Expense
AdvertisingExpense
4300000
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
0
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
20000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-15216000
us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions
2479000
us-gaap Costs And Expenses
CostsAndExpenses
68189000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-47770000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
800000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2836000
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
8198000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-413000
us-gaap Share Based Compensation
ShareBasedCompensation
2836000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
56032000
us-gaap Deferred Revenue Revenue Recognized
DeferredRevenueRevenueRecognized
15216000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
10756000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
198000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10777000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
1691000
dei Document Type
DocumentType
10-Q
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M27D
dei Trading Symbol
TradingSymbol
VNDA
dei Entity Central Index Key
EntityCentralIndexKey
0001347178
dei Document Period End Date
DocumentPeriodEndDate
2015-06-30
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
us-gaap Finite Lived Intangible Assets Amortization Method
FiniteLivedIntangibleAssetsAmortizationMethod
Straight-line basis
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5711140 shares
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0161 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
17656000
dei Amendment Flag
AmendmentFlag
false
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.37
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.15
dei Entity Registrant Name
EntityRegistrantName
Vanda Pharmaceuticals Inc.
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The preparation of financial statements in conformity with GAAP requires management to make estimates that affect the reported amounts of assets and liabilities at the date of the financial statements, disclosure of contingent assets and liabilities, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</p> </div>
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
41868944 shares
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.61 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
-426000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
81348000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-15596000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
939000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
795000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4013000
us-gaap Operating Income Loss
OperatingIncomeLoss
-15751000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-208000
us-gaap Revenues
Revenues
49732000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
12164000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
49732000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
282000
us-gaap Other Income
OtherIncome
144000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3872000
us-gaap Net Income Loss
NetIncomeLoss
-15607000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
11000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
11000
us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
314000
us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
25000000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
50555000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
1800000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
513000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7086000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
263000
us-gaap Advertising Expense
AdvertisingExpense
1900000
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
0
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
759000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
314000
us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions
795000
us-gaap Costs And Expenses
CostsAndExpenses
65483000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-12564000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
900000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
282000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4013000
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
999000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
796000
us-gaap Share Based Compensation
ShareBasedCompensation
4013000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
37192000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-30733000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
10781000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10424000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
36193000
vnda Share Based Compensation Option Awards Contractual Term
ShareBasedCompensationOptionAwardsContractualTerm
P10Y
CY2014Q2 us-gaap Licenses Revenue
LicensesRevenue
7764000
vnda Share Based Compensation Arrangement By Share Based Payment Award Remaining Percentage Of Share Subject To Option Awards
ShareBasedCompensationArrangementByShareBasedPaymentAwardRemainingPercentageOfShareSubjectToOptionAwards
0.75 pure
vnda Share Based Compensation Arrangement By Share Based Payment Annual Award Vesting Period Directors
ShareBasedCompensationArrangementByShareBasedPaymentAnnualAwardVestingPeriodDirectors
P1Y
vnda Percentage Of Responsibility For Patients Cost Of Branded Prescription
PercentageOfResponsibilityForPatientsCostOfBrandedPrescription
0.50 pure
vnda Percentage Of Future Sublicense Fees Payable
PercentageOfFutureSublicenseFeesPayable
Mid-twenties
vnda Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Share Subject To Option Awards
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfShareSubjectToOptionAwards
0.25 pure
vnda Share Based Compensation Arrangement By Share Based Payment Award Initial Vesting Period Directors
ShareBasedCompensationArrangementByShareBasedPaymentAwardInitialVestingPeriodDirectors
P4Y
vnda Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vesting Period One
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestingPeriodOne
P4Y
vnda Option Awards Vesting Period After Completion Of One Year Of Service
OptionAwardsVestingPeriodAfterCompletionOfOneYearOfService
P3Y
CY2014 us-gaap Licenses Revenue
LicensesRevenue
30700000
CY2014Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3739874 shares
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-21606000
CY2014Q2 us-gaap Revenues
Revenues
10862000
CY2014Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1559000
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.64
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33874625 shares
CY2014Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-21573000
CY2014Q2 us-gaap Other Income
OtherIncome
31000
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-21575000
CY2014Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2000
CY2014Q2 us-gaap Royalty Revenue
RoyaltyRevenue
1539000
CY2014Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
2000
CY2014Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
617000
CY2014Q2 us-gaap Advertising Expense
AdvertisingExpense
3300000
CY2014Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
0
CY2014Q2 us-gaap Costs And Expenses
CostsAndExpenses
32468000
CY2014Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
400000
CY2014Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1443000
CY2014Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
28139000
CY2014Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
198000
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3514000
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5765618 shares
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.13
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
41991578 shares
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-5386000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-5458000
CY2015Q2 us-gaap Revenues
Revenues
27582000
CY2015Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
27582000
CY2015Q2 us-gaap Other Income
OtherIncome
72000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-5386000
CY2015Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2942000
CY2015Q2 us-gaap Advertising Expense
AdvertisingExpense
900000
CY2015Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
0
CY2015Q2 us-gaap Costs And Expenses
CostsAndExpenses
33040000
CY2015Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
500000
CY2015Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2068000
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
18386000
CY2015Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
5766000
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5946000

Files In Submission

Name View Source Status
0001193125-15-271844-index-headers.html Edgar Link pending
0001193125-15-271844-index.html Edgar Link pending
0001193125-15-271844.txt Edgar Link pending
0001193125-15-271844-xbrl.zip Edgar Link pending
d937928d10q.htm Edgar Link pending
d937928dex1063.htm Edgar Link pending
d937928dex311.htm Edgar Link pending
d937928dex312.htm Edgar Link pending
d937928dex321.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
vnda-20150630.xml Edgar Link completed
vnda-20150630.xsd Edgar Link pending
vnda-20150630_cal.xml Edgar Link unprocessable
vnda-20150630_def.xml Edgar Link unprocessable
vnda-20150630_lab.xml Edgar Link unprocessable
vnda-20150630_pre.xml Edgar Link unprocessable