Here's Why Vanda Pharmaceuticals Jumped Higher Today

Here's Why Vanda Pharmaceuticals Jumped Higher Today

Shares of Vanda Pharmaceurticals (NASDAQ: VNDA) are up 8.7% at 2:35 p.m. EST after the drugmaker gained an expanded Food and Drug Administration (FDA) approval for its sleep drug Hetlioz. It's a fairly rare disease -- Vanda estimates that about 15,000 Americans have SMS. Taking the drug before bed helps reset patients' circadian rhythms.