June 28, 2013
Ryan & Maniskas, LLP
) announces that a class action lawsuit has been filed in the United States District Court for the
District of Columbia
on behalf of purchasers of Vanda Pharmaceuticals, Inc. ("Vanda" or the "Company") (NASDAQ: VNDA) between
December 18, 2012
June 18, 2013
, inclusive (the "Class Period").
For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (
Richard A. Maniskas, Esquire
) toll-free at (877) 316-3218 or by email at
Vanda is a biopharmaceutical company engaged in the development and commercialization of products for the treatment of central nervous system disorders, including tasimelteon -- a treatment for circadian rhythm sleep disorders ("CRSD") and currently in clinical development for a serious, rare CRSD known as "Non-24." The Complaint alleges that during the Class Period the Company issued false and/or misleading statements and/or failed to disclose the following: (1) the Company was forced to unilaterally change the primary endpoint in the middle of the tasimelteon Phase III studies as it was in possession of data suggesting the original primary endpoint would not be met; (2) the Company eliminated nighttime total sleep as the primary endpoint in its studies as there was no discernible difference in efficacy and safety in nighttime total sleep between those patients deemed to have Non-24 and those patients with a normal circadian rhythm; (3) the replacement primary endpoint installed to assess tasimelteon's efficacy and safety was created by the Company based on predicted results and has never been used before in sleep-drug clinical trials, nor was it endorsed by the Food and Drug Administration; and (4) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.