Vanda Pharmaceuticals Inc (Nasdaq: VNDA), a global biopharmaceutical company, yesterday reported its financial and operating results for the first quarter ended 31 March 2019.

The company reported Non-GAAP net income at USD3m in the first quarter of 2019, or USD0.06 per share, compared to a Non-GAAP net income of USD6.6m or USD0.14 per share in the year-ago period.

The firm posted cash, cash equivalents and marketable securities at USD267.8m as of 31 March 2019, representing an increase to Cash of USD10.5m and USD19m as compared to 31 December 2018 and 31 March 2018, respectively.

Mihael H Polymeropoulos, MD, Vanda's president and CEO, said, 'During the first quarter, Vanda made significant advances towards its commercial and research goals. Patients on treatment with Hetlioz continue to increase steadily, driven by broader awareness and recognition of Non-24. We are preparing for a possible launch later this year in jet lag disorder, an indication that has the potential to drive significant growth for our Hetlioz franchise. Tradipitant clinical development is advancing for three indications, atopic dermatitis, gastroparesis and motion sickness. We believe that Vanda is well positioned for significant growth in the coming quarters and years given its strong commercial and clinical development pipeline and its exceptional people.'