Vanda Pharmaceuticals puts VQW-765 on hold. Vanda Pharmaceuticals stock costs EUR 3.62

Published on 10/15/2026 at 13:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The Phase III trial enrolled 546 adults and missed both endpoints. Vanda Pharmaceuticals stock costs EUR 3.62 on October 15, 2026 after the failed study.

Clinical setback and regulatory dates

Vanda Pharmaceuticals enrolled 546 adults in the VQW-765 Phase III study on October 14, 2026.
Second-quarter 2026 revenue was USD 50.53 million, down 4 percent from the prior-year quarter.
Vanda Pharmaceuticals stock was trading at EUR 3.62 at 1:42 p.m. CEST at Lang & Schwarz on October 15, 2026.

VNDA, US9216591084, Illustration mit AI erstellt.

Vanda Pharmaceuticals (US9216591084) said on October 14, 2026 that its Phase III VQW-765 study enrolled 546 adults but did not meet its primary endpoint. PR Newswire reported that the program is on hold pending further analysis, leaving the late-stage pipeline as the immediate issue for investors.

Trial results reset the pipeline

The study tested VQW-765 in adults with social anxiety disorder during a standardized public-speaking stress test. Female participants recorded a distress score of 65.6 with VQW-765 versus 66.0 with placebo, with a p-value of 0.8899. The combined male and female population also missed the key secondary endpoint, with scores of 64.7 versus 63.8 and a p-value of 0.6605, according to PR Newswire.

What does the pipeline mean?

The setback matters because Vanda entered the second half of 2026 with several commercial and development milestones. In its second-quarter 2026 earnings call, Yahoo Finance reported that revenue was USD 50.53 million, down 4 percent from USD 52.6 million in the second quarter of 2025. Net loss was USD 62.5 million, compared with USD 27.2 million in the prior-year quarter.

Three dated developments

On September 29, 2026, Vanda announced positive Phase III HETLIOZ results, including a 42.5-minute shift in sleep onset. On October 5, 2026, H.C. Wainwright reiterated a Buy rating with a USD 20.00 price target, as reported by MarketBeat. On October 14, 2026, the VQW-765 study missed both endpoints and the program went on hold.

Upcoming regulatory dates

Vanda's second-quarter earnings call identified December 12, 2026 as the FDA target action date for Quimilza, while a five-day administrative hearing on HETLIOZ was expected in December 2026. These dates give the pipeline two identifiable regulatory checkpoints after the VQW-765 result.

Stock price reflects the setback

Vanda Pharmaceuticals was valued at USD 255.2 million on October 14, 2026, while its Nasdaq 52-week range was USD 4.20 to USD 9.94. The company remains dependent on commercial execution from products including Fanapt and on regulatory progress in its remaining programs.

Vanda Pharmaceuticals was trading at EUR 3.62 at Lang & Schwarz on October 15, 2026 at 1:42 p.m. CEST.

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