Bullet points of U.S. FDA declines to approve Vanda's stomach paralysis drug

Bullet points of U.S. FDA declines to approve Vanda's stomach paralysis drug
- Vanda Pharmaceuticals' drug tradipitant declined for approval by the US FDA
- Company's shares fell 14% in premarket trading
- Tradipitant licensed from Eli Lilly
- Drug being studied for motion sickness
- FDA imposed partial clinical hold on tradipitant
- Company plans to submit separate application for motion sickness prevention