Vanda puts VQW-765 on hold: Vanda Pharmaceuticals stock costs EUR 3.64

Published on 10/20/2026 at 14:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

A 546-adult Phase III study missed its primary endpoint on October 14, 2026. Vanda Pharmaceuticals stock costs EUR 3.64 on October 20, 2026.

Clinical results shape the outlook

Vanda's October 14, 2026 study enrolled 546 adults and missed its primary endpoint.
Second-quarter revenue fell 4 percent year over year to USD 50.53 million.
Vanda Pharmaceuticals stock traded at EUR 3.64 at 1:59 p.m. CEST at Lang & Schwarz on October 20, 2026.

VNDA, US9216591084, Illustration mit AI erstellt.

Vanda Pharmaceuticals (ISIN US9216591084) put its VQW-765 development program on hold after a Phase III study failed to meet its primary endpoint on October 14, 2026. The trial enrolled 546 adults with social anxiety disorder, according to PR Newswire.

Trial setback puts pipeline value under pressure

The primary endpoint measured distress during a public-speaking stress test in female participants. Their scores were 65.6 with VQW-765 and 66.0 with placebo, producing a p-value of 0.8899, the company said through PR Newswire. The key secondary endpoint in the combined male and female population also failed, with scores of 64.7 and 63.8.

The result matters because the Phase III study was designed to confirm earlier Phase II findings. Vanda said the program is on hold pending further analysis of the full dataset, while the release described VQW-765 as safe and well tolerated.

Revenue growth faces a mixed product picture

Vanda reported second-quarter 2026 revenue of USD 50.53 million, down 4 percent from USD 52.6 million in the second quarter of 2025, while the net loss widened to USD 62.5 million from USD 27.2 million. The figures appear in the earnings-call transcript published by Yahoo Finance.

Fanapt net product sales rose 23 percent year over year to USD 36.0 million in the second quarter of 2026, but HETLIOZ sales fell 66 percent to USD 5.6 million. Management reiterated full-year 2026 revenue guidance of USD 240 million to USD 290 million in the same call.

Three milestones frame the next update

On May 6, 2026, Vanda reported first-quarter revenue of USD 51.72 million. On August 5, 2026, second-quarter revenue was USD 50.53 million, according to Earnings Today. On October 14, 2026, the VQW-765 study enrolled 546 adults and missed its primary endpoint.

Which dates matter next?

The next scheduled earnings report is November 4, 2026, according to Earnings Today. Vanda's second-quarter call also identified December 12, 2026, as the FDA target action date for imsidolimab, as reported in the Yahoo Finance transcript.

Stock remains tied to clinical execution

Vanda's market value was USD 247.3 million as of October 19, 2026, with a 52-week range of USD 4.00 to USD 9.94. The company is listed on Nasdaq under VNDA and operates in healthcare biotechnology.

Vanda Pharmaceuticals stock was trading at EUR 3.64 at Lang & Schwarz on October 20, 2026 at 1:59 p.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Vanda Pharmaceuticals stock.