05:12 AM EDT, 05/31/2024 (MT Newswires) -- Vanda Pharmaceuticals ( VNDA ) said late Thursday it is now allowed to commercialize Ponvory, or ponesimod, in the US.

The company said the move follows the transfer of ownership of the US new drug application and investigational new drug applications of ponesimod to the company from a Johnson & Johnson company.

Ponvory is approved by the US Food and Drug Administration and Health Canada to treat adults with relapsing forms of multiple sclerosis.

Vanda acquired the US and Canadian rights to Ponvory on Dec. 7.

Price: 5.10, Change: +0.09, Percent Change: +1.80