Vanda Pharmaceuticals was buoyed by the latest data from a late-stage clinical trial of its experimental insomnia therapy. Its stock jumped more than 30 percent after releasing results for three doses: 25 milligrams, 50 milligrams and 100 milligrams of VEC-162. The 412 patients in the trial experienced a time-to-sound-sleep that ranged from 21.5 to 26.3 minutes faster than a placebo. Total sleep time also improved. One of the keys to Vanda's approach is avoiding a designation as a controlled substance.
"Because VEC-162 is a balanced melatonin receptor agonist that works through the natural sleep/wake cycle, it appears to lack the side effects associated with hypnotics and sedatives and should not be scheduled as a controlled substance," said Paolo Baroldi, M.D., Ph.D., senior vice president and chief medical officer.
- see the company press release on the data
- here's the AP report for more info
Vanda cuts IPO prices. Report