Vanda Pharmaceuticals

VNDA

Biotechnology · Healthcare

Price

$5.44

-0.01 (-0.18%)

Market Cap

$327.1M

Exchange

NASDAQ

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Share count rising — dilution

+3.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 56.9M (2021) → 58.9M (2025)

Vanda Pharmaceuticals Inc., a biopharmaceutical company, focuses on the development and commercialization of therapies to address high unmet medical needs. The company's marketed products include HETLIOZ for the treatment of non-24-hour sleep-wake disorders; and Fanapt oral tablets for the treatment of schizophrenia. Its products under development include HETLIOZ (tasimelteon) for the treatment of jet lag disorder, smith-magenis syndrome, pediatric Non-24, autism spectrum, and delayed sleep phas

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+3.4% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-64.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$109M/ year

↑ Rising (+47% vs prior year)

50.6% of revenue

2.8x the sector average (18%)

Investing heavily in future products and technology

Insider Activity

10.5%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~3 months

$54M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Heavy R&D investment

Vanda Pharmaceuticals is putting 51% of revenue into R&D and that number is rising. That's 2.8x the sector average.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

90.0%

Premium pricing power — 90.0% gross margin

Operating Margin

-97.1%

Losing money on operations — -97.1%

ROCE

-17.5%

Weak — -17.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+8.2%

Steady sales growth (8.2% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-58.5%

Burning cash (-58.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.02

Conservative — low debt load (0.02)

Interest Cover

N/A

—

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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