Jim Cramer on Vanda Pharmaceuticals: "I'm Going to Bless That One as Your Spec"

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) is one of the stocks on Jim Cramer’s radar recently. When Cramer was asked about the stock toward the end of the lightning round, he said:

“Well, look, here’s the way I feel about Vanda. This is a spec, and it’s absolutely like when I say in How to Make Money in Any Market: you can have a spec. I’m going to bless that one as your spec.”

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) develops and markets therapies for sleep, neurological, psychiatric, and inflammatory disorders. On August 28, the company announced that the U.S. Food and Drug Administration granted Orphan Drug Designation for VGT-1849B, a selective JAK2 inhibitor developed to treat polycythemia vera. Polycythemia vera is a rare blood disorder in which the bone marrow produces too many red blood cells. VGT-1849B uses OliPass Peptide Nucleic Acid technology to improve cell permeability and RNA targeting.

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Disclosure: None. This article is originally published at Insider Monkey.