This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Law Firm Of Wohl & Fruchter LLP Announces Investigation Of Vanda Pharmaceuticals, Inc.

Stocks in this article: VNDA

The law firm of Wohl & Fruchter LLP announces that it is investigating possible violations of federal securities laws by officers and directors of Vanda Pharmaceuticals, Inc. (Vanda) (NASDAQ: VNDA).

Vanda is a biopharmaceutical company that engages in the development and commercialization of products for the treatment of central nervous system disorders. One of its drugs in clinical development, Tasimelteon, has completed two Phase III clinical trials for the treatment of circadian rhythm sleep disorders.

On May 31, 2013, Vanda announced the submission of a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for Tasimelteon. The NDA seeks FDA approval of Tasimelteon for the treatment of Non-24-Hour Disorder (Non-24), a sleep disorder that affects the totally blind, based on the results of Vanda’s Phase III trials of the drug.

On June 19, 2013, an article appeared on theStreet.com claiming that a detailed analysis of Vanda’s Phase III trials reveals a large number of irregularities and red flags. Among other issues, the article cites multiple changes in the primary endpoint over the course of the trials, including a change just one month before study results were announced to a new primary endpoint that has allegedly never been used before in sleep-drug clinical trials, and that was not endorsed by the FDA. The article also states that Vanda was forced to cut patient enrollment in the clinical trials in half because an insufficient number of totally blind patients with Non-24 could not be identified, and that ultimately less than 5% of the patients enrolled in the trials suffered from Non-24 according to the "textbook definition" of the disease.

Following publication of the Street.com article, VNDA dropped over 24% from a close of $10.92/share on June 18, 2013, to $8.28/share shortly after noon during trading on June 18, 2013.

Additional information is available on our website at: http://www.wohlfruchter.com/cases/vnda.

Persons with relevant information, and VNDA shareholders with questions about this investigation, are invited to contact the attorney below, or our Firm by calling 866.582.8140.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs