Vanda Pharmaceuticals shares are trading lower after the company revealed the receipt of a FDA complete response letter for HETLIOZ (tasimelteon) for insomnia treatment.
Portfolio Pulse from Benzinga Newsdesk
Vanda Pharmaceuticals' shares dropped following the announcement of receiving a FDA complete response letter for HETLIOZ (tasimelteon), aimed at treating insomnia.
March 06, 2024 | 12:20 pm
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Vanda Pharmaceuticals' stock price is expected to face downward pressure in the short term due to the FDA's complete response letter for HETLIOZ.
Receiving a complete response letter from the FDA typically indicates that the agency requires more information or has concerns that need to be addressed before approval. This can delay the commercialization of the drug, affecting the company's revenue projections and potentially its stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100