Vanda Pharmaceuticals created a new experimental sleep disorder drug, tasimelteon, that the FDA reports is safe and effective enough to receive approval. A panel of medical experts will meet to determine whether the data concerning this new drug warrants FDA approval. The FDA will then take the panel's recommendations into consideration before finally approving the drug for consumers. The drug is meant to treat "Non-24-Hour Disorder" - a circadian rhythm disorder that affects people who are completely blind. The disorder occurs due to the inability to sense light, which is necessary to synchronizing the body's internal clock. Since this disorder is relatively rare, the FDA classified the drug in "Orphan Drug" status, meaning that it is meant to treat people with a disease that affects less than 200,000 people. Clinical studies of the drug show few side effects and huge benefits, even more than initially expected. Shares of Vanda stock have soared after the announcement that this new drug shows immense promise.