Vanda Pharmaceuticals, Inc. (VNDA)

[surf1944]

7:17AM Vanda Pharma misses by $0.12 (VNDA) 4.39 : Reports Q1 (Mar) loss of $0.28 per share, $0.12 worse than the Capital IQ Consensus Estimate of ($0.16); revenues rose 8.0% year/year to $8.1 mln (no rev est) Research and development expenses are expected to be between $42.0 and $47.0 million. This compares to $29.0 million in 2011. The increase of $13 to $18 million over 2011 reflects our ongoing investment in the development of tasimelteon for Non-24 and MDD. R&D expenses include approximately $2.5 million of SBC. Excluding SBC, R&D expenses are expected to be between $39.5 and $44.5 million.