Vanda Pharma inks alliance with Laboratory Corp. of America
Shares of Vanda Pharmaceuticals Inc. (Nasdaq:VNDA) are getting a bit of a pop in pre-market trading after the developer of clinical-stage product candidates for central nervous system disorders said this morning that it made an exclusive alliance with Laboratory Corporation of America Holdings (NYSE:LH) to develop and commercialize a series of diagnostic tests for genetic markers.
Vanda will identify the tests in the course of its clinical development of Fanapta, an atypical antipsychotic drug candidate under FDA review for the treatment of schizophrenia.
Shares gained 9%, or $0.44, to $5.24 in pre-market trading. For detailed price information and recent news stories about Vanda, click VNDA.
