Biotech Catches Major Premarket Bid Following FDA Approval
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Biotech Catches Major Premarket Bid Following FDA Approval

Biotech Catches Major Premarket Bid Following FDA Approval By: Tomas Ronolski - AllPennyStocks.com News

Wednesday, April 3, 2024

A Washington D.C.-based biotech is causing quite the stir so far during Wednesday’s premarket after the company’s Fanapt received FDA approval for the acute treatment of bipolar I disorder, according to a press release. 

Shares of Vanda Pharmaceuticals Inc. (Nasdaq:VNDA) are currently being bid up aggressively by traders as we head toward the opening bell, with traders currently willing to buy shares at $4.70/share (+20.20% implied open for sellers) at the time of writing. It should be an exciting session for this small cap!

Vanda Pharmaceuticals Inc is a biopharmaceutical company engaged in the development and commercialization of therapies to address high unmet medical needs and improves the lives of patients. Its commercial portfolio comprises two products, HETLIOZ for the treatment of Non-24-Hour Sleep-Wake Disorder (Non-24) and nighttime sleep disturbances in Smith-Magenis Syndrome (SMS) and Fanapt for the treatment of schizophrenia. Its other products include Tradipitant (VLY-686), VTR-297, and VQW-765.


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