Vanda Pharmaceuticals to submit Tasimelteon NDA in mid-2013 In December 2012 and January 2013, Vanda announced positive results for two Phase III studies for tasimelteon in the treatment of Non-24. The SET Phase III study demonstrated that tasimelteon was able to entrain the master body clock as measured by melatonin and cortisol circadian rhythms. Vanda plans to submit an NDA to the FDA in mid-2013. Vanda will meet with the FDA in Q1 of 2013 for a pre-NDA meeting on tasimelteon in the treatment of patients with Non-24.Vanda has decided to discontinue all activities related to the MDD indication. In January, Vanda announced that the MAGELLAN Phase IIb/III clinical study in MDD did not meet the primary endpoint of a change from baseline in the Hamilton Depression Scale after 8 weeks of treatment as compared to placebo. Vanda has formally appealed the EMA's negative opinion for Fanaptum and requested a re-examination of the decision by the EMA's Committee for Medicinal Product for Human Use.
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Vanda Pharmaceuticals price target raised to $19 from $9 at JMP Securities JMP Securities has increased confidence in Vanda's tasimelteon after reviewing data and receiving feedback from doctors. The firm keeps an Outperform rating on the stock.
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