Vanda Pharmaceuticals Advances Ponesimod Into Phase 3 Psoriasis Study: What Investors Should Know

Vanda Pharmaceuticals (VNDA) announced an update on their ongoing clinical study.

Study Overview

Vanda Pharmaceuticals has launched a Phase 3 study titled “A Multicenter, Open Label Study to Investigate the Safety and Efficacy of Ponesimod in the Treatment of Moderate-to-Severe Chronic Plaque Psoriasis.” The goal is to see how well ponesimod works and how safe it is for adults with tougher, long-lasting plaque psoriasis that is not well controlled by current options. For investors, this represents an effort by Vanda to expand into a large, competitive dermatology market with an oral therapy that could appeal to patients seeking alternatives to injections.

Intervention/Treatment

The study tests ponesimod, taken as an oral tablet. Ponesimod is a drug aimed at reducing the activity of immune cells that drive skin inflammation in plaque psoriasis. The treatment is designed to improve skin symptoms, reduce flare-ups, and offer a more convenient, pill-based option versus injectable biologic drugs.

Study Design

This is an interventional, open-label, single-arm Phase 3 study. All participants will receive ponesimod; there is no placebo or comparison drug group. There is no masking, meaning both doctors and patients know they are taking ponesimod. The main purpose is to test how well the drug treats psoriasis in real-world-like conditions and to gather more safety data over time.

Study Timeline

The trial was first submitted on January 20, 2026, and at this point is listed as “not yet recruiting,” so patient enrollment has not started. The latest update to the record was filed on January 21, 2026, confirming the study is active in planning and setup. Primary completion and final completion dates have not been detailed yet, but investors should assume data readouts are several years away from the first patient dosed.

Market Implications

For Vanda’s stock, this update signals a strategic push into a high-value psoriasis segment where big players like Novartis, Eli Lilly, AbbVie, and others dominate with biologics and newer oral drugs. While this is an early operational step, it may support a modest sentiment boost by showing pipeline expansion beyond Vanda’s traditional focus areas. However, near-term revenue impact is unlikely, as data are years out and competition is intense. Investors should watch for enrollment progress, any partnership moves, and early safety signals, which will shape how seriously the market values ponesimod’s role in the psoriasis landscape.

The study remains ongoing at the planning stage, with the latest details and future updates available on the ClinicalTrials.gov portal.

To learn more about VNDA’s potential, visit the Vanda Pharmaceuticals drug pipeline page.