* Q4 loss $0.34/shr vs est loss $0.16/shr
* G&A expenses rise 124 pct
Feb 16 Vanda Pharmaceuticals Inc (VNDA.O)
posted a wider-than-expected quarterly loss, hurt by expenses
related to its deal with Novartis NOVN.VX for its
For the fourth quarter, Vanda reported a net loss of $9.2
million, or 34 cents a share, compared with a loss of $7.5
million, or 28 cents a share, in the year-ago period.
Revenue for the latest quarter was $4.5 million.
Analysts on average were expecting a loss of 16 cents a
share and revenue of $3.3 million for the quarter, according to
Thomson Reuters I/B/E/S.
General and administrative expenses, including the costs
related to the Novartis transaction, rose to $9.2 million from
$4.1 million in the year-ago period.
In October, the Swiss drug maker agreed to pay $200 million
to acquire the rights to sell Vanda's schizophrenia drug Fanapt
in the United States and Canada.
The company said revenue related to the payment from
Novartis will be recognized ratably -- $2.2 million per month
-- through May 2017.
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Shares of the company closed at $10.63 Friday on Nasdaq.
(Reporting by Jennifer Robin Raj in Bangalore; Editing by