Another In A Series of Unfortunate Press Releases

(from a Vanda press release, 1/26/12): “Vanda Pharmaceuticals Inc. (NASDAQ: VNDA – News) announced today that tasimelteon was shown for the first time to reset the body clock and to align it to a constant 24-hour day in patients suffering from Non-24-Hour Sleep-Wake Disorder (Non-24-Hour Disorder). Tasimelteon is a circadian regulator in development for the treatment of Non-24-Hour Disorder in totally blind individuals with no light perception. This observation was made in four patients during the initial run-in segment of the RESET study. RESET is a Phase III study of the maintenance effect of tasimelteon in the treatment of Non-24-Hour Disorder. Vanda intends to enroll a total of 20 tasimelteon responders in this study.”We are extremely excited by this finding as it provides us with evidence that tasimelteon is able to reset the body clock in patients with Non-24-Hour Disorder,” said Mihael H. Polymeropoulos, MD, President and CEO of Vanda Pharmaceuticals.”

On a ‘per-capita’ basis, Vanda Pharmaceuticals has done less with its resources (they have over $150 million in cash on hand) than any company we know, and that is not easily done, given some of the underperformers in the neurotherapeutics area. Why Vanda management would choose to highlight that fact with this press release completely escapes us.

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