WASHINGTON (AP) _ Vanda Pharmaceuticals Inc. (VNDA) on Wednesday reported second-quarter net income of $11.5 million.
The Washington-based company said it had net income of 21 cents per share.
The biopharmaceutical company posted revenue of $59.1 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $54.9 million.
Vanda shares have fallen 52% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.45, a fall of 40% in the last 12 months.