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Vanda Pharmaceuticals Reports First Quarter 2009 Results
Date:4/29/2009

le securities as of

March 31, 2009 totaled approximately $42.6 million, compared to

approximately $46.5 million as of December 31, 2008.

* Net loss for the first quarter of 2009 was $6.5 million, compared to

a net loss of $7.5 million for the fourth quarter of 2008 and a net

loss of $19.2 million for the first quarter of 2008.

* Net loss per common share for the first quarter of 2009 was $0.24,

compared to $0.28 for the fourth quarter of 2008 and $0.72 for the

first quarter of 2008.

FINANCIAL GUIDANCE

Vanda will update its financial guidance following the decision by the FDA regarding the New Drug Application for iloperidone.

ABOUT VANDA PHARMACEUTICALS INC.:

Vanda Pharmaceuticals Inc. is a biopharmaceutical company focused on the development and commercialization of clinical-stage product candidates for central nervous system disorders. For more on Vanda Pharmaceuticals Inc., please visit http://www.vandapharma.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Various statements in this release are "forward-looking statements" under the securities laws. Words such as, but not limited to, "believe," "expect," "anticipate," "estimate," "intend," "plan," "targets," "likely," "will," "would," and "could," and similar expressions or words, identify forward-looking statements. Forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions and uncertainties. Vanda is at an early stage of development and may not ever have any products that generate significant revenue. Important factors that could cause actual results to differ materially from those reflected in
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SOURCE Vanda Pharmaceuticals Inc.
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