Vanda, Oculus, Sequenom: Biotech Notebook

BOSTON, Mass. (TheStreet) -- Vanda Pharmaceuticals' (VNDA) buyout partner remains missing in action. No more improper drug marketing claims from Oculus Innovative Sciences (OCLS). Sequenom (SQNM) walks back expectations for its Downs syndrome gene test -- these are some of the random notes and observations from second-quarter earnings.

Vanda Pharmaceuticals

Vanda reported a higher-than-expected loss for the second quarter Monday, but it's what the company didn't report -- a buyout or marketing partnership for its schizophrenia drug Fanapt -- which disappointed investors the most.

Three months have passed since the U.S. Food and Drug Administration's approval of Fanapt surprised everyone (including Vanda, from what I hear), yet the company seems no closer to launching the drug.

Vanda bulls are hoping the company is acquired outright, or at the very least, Vanda manages to license Fanapt to a larger drug company in exchange for a hefty sales-based royalty. Monday, however, the company said it was still evaluating all its options, which includes launching the drug on its own.

Vanda CEO Mihael Polymeropoulos said Monday that the company's plan is to have Fanapt available to patients in the fourth quarter. Yet if Vanda tries to sell Fanapt on its own, the stock will get crushed.

One other Vanda related question -- who is the mystery "regulatory consultant" paid $5 million by Vanda for his assistance in getting Fanapt approved by the FDA?

Vanda shares closed down 10.2% to $13.93 on Monday.

Oculus Innovative Sciences

Surprise, surprise! Oculus CEO Hoji Alimi didn't make any medical or drug-like claims about the company's wound cleaning product Microcyn on the second-quarter conference call last Thursday night.