Shares of Vanda Pharmaceuticals Inc. (VNDA) shot up in late trading to $9.79 from their Wednesday closing price of $1.08, after the company said the Food and Drug Administration approved its schizophrenia drug.
Fanapt received marketing approval for the acute treatment of adult patients with schizophrenia after two Phase III clinical trials comparing the drug with placebos and early data from more than 3,000 patients.
"The approval of Fanapt marks a new opportunity for many patients with schizophrenia who experience only partial responses to current therapies," said Dr. Peter Werden, a psychiatry professor at the University of Illinois in Chicago.
Vanda plans to have the drug available in pharmacies later this year.
-By Kathy Shwiff, Dow Jones Newswires; 201-938-5975; Kathy.Shwiff@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=2mGhBVCXrMyghSy2py0uGA%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
May 06, 2009 19:03 ET (23:03 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.- - 07 03 PM EDT 05-06-09
Wednesday, May 6, 2009
Biotech Monster Emerges After Close; Forward-Thinkers Should Monitor Fanapt's SAFETY, as VNDA's Momentum Could Pivot 180 within 4 Months, Caution...
Shares of Vanda Pharmaceuticals Inc. (VNDA) shot up in late trading to $9.79 from their Wednesday closing price of $1.08, after the company said the Food and Drug Administration approved its schizophrenia drug.
Fanapt received marketing approval for the acute treatment of adult patients with schizophrenia after two Phase III clinical trials comparing the drug with placebos and early data from more than 3,000 patients.
"The approval of Fanapt marks a new opportunity for many patients with schizophrenia who experience only partial responses to current therapies," said Dr. Peter Werden, a psychiatry professor at the University of Illinois in Chicago.
Vanda plans to have the drug available in pharmacies later this year.
-By Kathy Shwiff, Dow Jones Newswires; 201-938-5975; Kathy.Shwiff@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=2mGhBVCXrMyghSy2py0uGA%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
May 06, 2009 19:03 ET (23:03 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.- - 07 03 PM EDT 05-06-09
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