Investors Get Sound Sleep As Vanda Blooms...

(RTTNews) - Shares of Vanda Pharmaceuticals Inc. (VNDA) are up more than 21 percent to $15.88 in extended trading on Thursday following the company's sleep drug for blind, Tasimelteon, receiving the backing of an FDA advisory panel.

Tasimelteon is a circadian regulator that is being pursued for the indication of Non-24-Hour Disorder (Non-24). A chronic and little-known sleep dysfunction, Non-24-hour Disorder is mostly observed in blind people, and is associated with symptoms of insomnia and/or excessive sleepiness. Currently, there are no approved medications for this circadian rhythm disorder.

The proposed trade name for Tasimelteon is HETLIOZ, and is currently under Priority Review by the FDA.

The regulatory agency's final decision on Tasimelteon is slated for January 31, 2014. Although the FDA is not bound by its advisory panels' recommendations, it usually follows them.

Last year on this very same day, Nov.14, 2012, when we alerted our readers of a trading opportunity in VNDA in our report titled "Sound Sleep Or Sleepless Nights? Vanda's Tasimelteon May Hold The Answer", the stock was trading around $3. Had you bought the stock then, your gain is now 405 percent based on today's after-market price.

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