WASHINGTON (AP) _ Vanda Pharmaceuticals Inc. (VNDA) on Wednesday reported a first-quarter loss of $612,000, after reporting a profit in the same period a year earlier.
On a per-share basis, the Washington-based company said it had a loss of 1 cent. Earnings, adjusted for stock option expense and non-recurring costs, were 6 cents per share.
The biopharmaceutical company posted revenue of $47.7 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $51.3 million.
Vanda expects full-year revenue in the range of $215 million to $225 million.
Vanda shares have fallen 39% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16, an increase of 13% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VNDA at https://www.zacks.com/ap/VNDA