Vanda's Fanapt Gets FDA Approval For Acute Treatment Of Bipolar I Disorder; Stock Up In After-hours

(RTTNews) - Vanda Pharmaceuticals Inc. (VNDA) said that the U.S. Food and Drug Administration has approved Fanapt (iloperidone) tablets for the acute treatment of manic or mixed episodes associated with bipolar I disorder in adults.

VNDA closed Tuesday's regular trading at $3.91 down $0.21 or 5.10%. But in the after-hours trading, the stock up $1.19 or 30.43%.

Fanapt is an atypical antipsychotic agent that has been used for the acute treatment of patients with schizophrenia since its FDA approval in 2009.

Bipolar disorder is a serious, highly prevalent psychiatric chronic condition affecting approximately 2.8% of the U.S. adult population, with 83% of them classified as severe. Bipolar disorder is a group of disorders that are characterized by periods of elevated mood alternating with periods of depressed mood.

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