** Shares of drugmaker Vanda Pharmaceuticals fall 10.9% to $4.41 premarket
** Co says U.S. FDA declined to approve its stomach paralysis drug, tradipitant
** Co says the FDA suggested that Vanda conduct additional studies
** Will continue to pursue approval for the drug to treat gastroparesis, characterized by delayed gastric emptying
** Plans to submit separate marketing application for tradipitant to prevent vomiting during motion sickness later this year
** Stock up 17.3% YTD vs 11.3% rise in the Nasdaq Biotechnology Index
(Reporting by Sneha S K)
((Sneha.SK@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.