Why Is Vanda Pharmaceuticals (VNDA) Stock Up 33% Today?


  • Vanda Pharmaceuticals (VNDA) stock is soaring higher on FDA approval.
  • This covers its Fanapt tablets being used to treat bipolar I disorder in adults.
  • That news brings with it heavy trading of VNDA stock on Wednesday.
VNDA Stock - Why Is Vanda Pharmaceuticals (VNDA) Stock Up 33% Today?

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Vanda Pharmaceuticals (NASDAQ:VNDA) stock is heading higher on Wednesday after the biopharmaceutical company got new approval from the U.S. Food and Drug Administration (FDA).

This new approval covers the use of the company’s Fanapt tablets as an acute treatment of manic or mixed episodes connected to bipolar I disorder in adults. Vanda Pharmaceuticals notes that bipolar disorder affects 2.8% of U.S. adults and 83% of those cases are considered severe.

Investors will note that Fanapt isn’t a new drug from Vanda Pharmaceuticals. It has been approved since 2009 as a treatment for patients with schizophrenia. This is approval from the FDA for an expanded use of the drug as a bipolar disorder treatment.

Vanda Pharmaceuticals President, CEO and chairman Mihael Polymeropoulos said this about the FDA approval:

“Manic or mixed episodes associated with bipolar I disorder are highly complex conditions, which require a host of trusted options to meet individual patient needs. With over 100,000 patient years of experience, Fanapt is a familiar therapeutic agent that offers flexible dosing with a well-known safety profile.”

How This Affects VNDA Stock Today

Investors are celebrating the FDA approval with heavy trading of VNDA stock this morning. That has more than 11 million shares changing hands as of this writing. That’s well above its daily average trading volume of about 954,000 shares.

VNDA stock is up 32.7% as of Wednesday morning.

There are more stock market stories worth reading about below!

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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