Vanda Pharmaceuticals, Inc. (VNDA)

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7:01AM Vanda Pharma beats by $0.10, misses on revs (VNDA) 4.90 : Reports Q1 (Mar) loss of $0.15 per share, $0.10 better than the Capital IQ Consensus Estimate of ($0.25); revenues were unchanged from the year-ago period at $8.1 mln.

Cash:
Cash decreased by $9.5 mln in the first quarter of 2013, compared to decreases of $10.6 mln in the first quarter of 2012 and $14.0 mln in the fourth quarter of 2012. Vanda's Cash as of March 31, 2013 totaled $110.9 mln.

2013 FINANCIAL GUIDANCE
2013 financial guidance assumes a mid-year NDA submission for tasimelteon for Non-24 is accepted by the FDA for Standard Review. 2013 expenses are expected to reflect lower research and development spending as compared to 2012 and an increase in commercial spending that is commensurate to progress with the tasimelteon NDA filing.

Full year 2013 decrease in Cash is expected to be between $45.0 and $50.0 mln, compared to $47.5 mln for 2012.
Total 2013 operating expenses are expected to be between $57.0 and $62.0 mln.
This includes Fanapt intangible asset amortization of $1.5 mln and $4.0-6.0 mln of non-cash stock based compensation. Total 2012 operating expenses were $61.0 mln.
2013 operating expense guidance assumes $4.3 mln in milestone payments due upon the acceptance by the FDA of a tasimelteon NDA submission and $3.0-4.0 mln in NDA filing-related expenses.