Vanda Pharmaceuticals, Inc. (VNDA)

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Vanda 2Q loss narrows on lower expenses
Vanda Pharmaceuticals' 2Q loss narrows on lower compensation, commercial expense, misses views
On Monday August 10, 2009, 7:59 am EDT

Companies:Vanda Pharmaceuticals, Inc.
ROCKVILLE, Md. (AP) -- Development-stage biotechnology company Vanda Pharmaceuticals Inc. said Monday its second-quarter loss narrowed on lower expenses.

The company lost $12.4 million, or 46 cents per share, compared with a loss of $13.5 million, or 51 cents per share, during the year-ago period. Vanda did not report revenue in either quarter.

Analysts polled by Thomson Reuters expected a loss of 41 cents per share.

Operating expenses fell 11 percent to $12.4 million, mainly on lower compensation and commercial costs.

The company makes treatments for central nervous system disorders. In May, the Food and Drug Administration approved the company's schizophrenia drug Fanapt. The company expects to begin marketing the drug later in 2009.

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