Vanda Pharmaceuticals Inc. (Vanda) announced the appointment of Charles Duncan, Ph.D. to its Board of Directors effective April 22, 2026. Following Dr. Duncan's appointment, Vanda's Board of Directors is now comprised of seven directors, six of whom are independent. Dr. Duncan currently serves as the President of Sulci Advisors, LLC, a business advisory firm focused on the life sciences sector, a position he has held since founding the firm in September 2025.

Prior to founding Sulci Advisors, LLC, Dr. Duncan spent nearly three decades as a sell-side biotechnology equity research analyst. From July 2018 until his retirement in June 2025, Dr. Duncan served as Managing Director and Senior Biotechnology Analyst at Cantor Fitzgerald & Co., where he initiated or assumed coverage on more than 70 companies, with a particular focus on neurology, psychiatry and platform-enabled therapeutics. From December 2012 to June 2018, Dr. Duncan served as Managing Director and Senior Biotechnology Analyst at Piper Jaffray & Co., where he initiated or assumed coverage on more than 40 companies and was recognized by Thomson Reuters StarMine for stock picking and earnings estimates.

From September 2002 to December 2012, Dr. Duncan served as Managing Director, Supervisory and Senior Biotechnology Analyst at JMP Securities, LLC, where he was a founding healthcare partner and launched the firm's biotechnology research franchise. Earlier in his career, Dr. Duncan held biotechnology equity research positions at Dresdner Kleinwort Wasserstein Securities Inc., Prudential Securities Inc., Tucker Anthony Cleary Gull Inc. and Chatfield Dean & Co. Inc., and previously served as a founder and board member of InfusionVision MEDical Inc., a private venture capital-backed medical device company.

Dr. Duncan received his Ph.D. in Pharmaceutical Sciences, with a concentration in Neuropharmacology, from the University of Colorado-Boulder and his B.S. in Zoology from the University of Wisconsin-Madison.