Vanda shares shoot up on late-stage drug data

Vanda Pharmaceuticals saw its shares skyrocket 75 percent after reporting that a third late-stage trial of its experimental schizophrenia drug hit its primary endpoint in significantly reducing symptoms compared to a placebo. Vanda officials say now that they are poised to file for approval of iloperidone in late 2007. Researchers at the company say that they have been examining the genetic profiles of patients to better define who would benefit from the therapy. The four-week Phase III trial enrolled 604 patients.

"We are especially pleased to have achieved our pharmacogenetic results," said Mihael Polymeropoulos, M.D., president and CEO of Vanda. "For the first time in the treatment of a psychiatric disease, we have applied pharmacogenetic tools to identify patients best suited for a specific drug therapy. Our market research indicates that physicians treating schizophrenia patients would enthusiastically welcome such information in making prescribing decisions."

- check out the release on Vanda's data

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