VNDA Data Readout: a negative outcome, -5.6%

On February 20, 2026, Milsaperidone — Vanda Pharmaceuticals Inc. (Major Depressive Disorder (MDD)) reached its Data Readout. The result was a negative outcome, and the stock moved -5.6% in the window around the event. It had already run -21.8% in the 30 days into the catalyst — the kind of pre-event run-up that often precedes binary readouts.