Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) shares are trending on Wednesday.
Check out the current price of VNDA stock here.
Shares of the biopharmaceutical company jumped 20.20% to $8.45 in after-hours trading on Tuesday after it announced U.S. Food and Drug Administration approval of NEREUS (tradipitant), an oral neurokinin-1 receptor antagonist, for the prevention of motion-induced vomiting in adults.
Pivotal Trial Data Shows Risk Reduction
According to Vanda Pharmaceuticals, NEREUS demonstrated efficacy in three pivotal clinical trials. In the Motion Syros trial involving 365 patients, vomiting occurred in 18.3% to 19.5% of those treated with NEREUS, compared with 44.3% in the placebo group (p < 0.0001).
In the Motion Serifos study of 316 patients, vomiting rates ranged from 10.4% to 18.3% with NEREUS, versus 37.7% with placebo (p ≤ 0.0014), representing risk reductions of more than 50% to 70%.
Common adverse reactions included somnolence in 6% to 12% of patients and fatigue in 6% to 8%.
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Mihael H. Polymeropoulos, president, CEO and chairman of Vanda Pharmaceuticals, said, “For the first time in over 40 years, patients have access to a novel therapy grounded in modern neuropharmacology.”
Market Size And Pipeline Development
The Washington-based biotech said approximately 25% to 30% of U.S. adults, an estimated 65 million to 78 million people, experience motion sickness during routine travel, and about 5% to 15% experience severe, recurrent symptoms.
Vanda is also advancing tradipitant in clinical development for gastroparesis, a chronic disorder, and for the prevention of nausea and vomiting caused by GLP-1 receptor agonists.
NEREUS, licensed from Eli Lilly and Company (NYSE:LLY), is expected to be launched by Vanda Pharmaceuticals in the coming months.
Trading Metrics, Technical Analysis
The relative strength index (RSI) of Vanda Pharmaceuticals is 65.44.
With a market capitalization of $415.45 million, the stock has a 52-week high of $7.47 and a 52-week low of $3.81.
Over the past 12 months, VNDA has gained 47.07%, reflecting a strong long-term trend.
Trading at 88% of its 52-week range, the stock is near its highs, indicating bullish sentiment. While this suggests potential for further upside, caution is warranted as it approaches overbought levels.
Price Action: On Tuesday, the stock closed at $7.03, down 2.36%, according to Benzinga Pro data.
With a strong Momentum in the 90th percentile, Benzinga’s Edge Stock Rankings indicate that VNDA has a positive price trend across all time frames. Know how its momentum lines up with other well-known names.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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