Vanda shares soar on positive PhIII data

Shares of Vanda Pharmaceuticals ($VNDA) shot up 28% this morning after the biotech published upbeat data from its late-stage study of a new drug for a rare circadian rhythm disorder. Investigators say that tasimelteon significantly helped a group of blind patients whose lack of sensitivity to light has scrambled their natural body clock, which regulates sleep. The drug posted solid improvements over a placebo, helping patients with a variety of symptoms of the disease. The drug has gained orphan drug status. "Today's results confirm tasimelteon as a strong circadian regulator capable of entraining the master body clock in patients with Non-24. We are particularly impressed and excited by the magnitude and robustness of the direct clinical benefits to patients," said Vanda CEO Mihael H. Polymeropoulos. "We believe that tasimelteon can be an effective and clinically meaningful treatment for patients suffering with this debilitating disorder." Release