Vanda Pharmaceuticals, Inc. (VNDA)

[surf1944]

7:02AM Vanda Pharma beats by $0.03, beats on revs (VNDA) 6.45 : Reports Q3 (Sep) loss of $0.17 per share, $0.03 better than the Capital IQ Consensus Estimate of ($0.20); revenues rose 4.8% year/year to $8.7 mln vs the $8.28 mln consensus.

2013 expenses are expected to reflect lower research and development spending as compared to 2012 and an increase in commercial spending. Reflecting the recent public offering and year to date expenditures, Vanda now expects that it will end the year with between $130.0 and $135.0 million in Cash. Total 2013 operating expenses are expected to be between $50.0 and $55.0 million and decrease in Cash, excluding the impact of the recent public offering, is expected to be between $35.0 and $40.0 million.