Research Feed
Vanda: Bysanti Margin Thesis Has 40% Line Extension Risk (PDUFA Feb 21)
Vanda ($6.09, RSI 29 after 20% selloff) has a binary catalyst in 7 days: Bysanti PDUFA decision Feb 21. The bull case centers on a margin expansion mechanism that management explicitly touted in the Q4 earnings call. CFO Kevin Moran stated that 30-40% of Fanapt's Medicaid business contributes negati
Vanda: Why the 17% Selloff on a $220M Loss Misses the Point
The Street dumped VNDA 17% on February 11 after the company reported a $220M net loss (-$3.74 EPS) for FY2025. The headline looks brutal. The operational reality tells a different story. $113.7M of that $220M loss is a non-cash deferred tax asset valuation allowance. Management wrote down all DTA be