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Vanda Pharmaceuticals Reports First Quarter 2013 Results
Date:5/9/2013

e on the SEC's website at www.sec.gov.  In addition to the risks described above and in Vanda's annual report on Form 10-K and quarterly reports on Form 10-Q, other unknown or unpredictable factors also could affect Vanda's results.  There can be no assurance that the actual results or developments anticipated by Vanda will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Vanda.  Therefore, no assurance can be given that the outcomes stated in such forward-looking statements and estimates will be achieved.

All written and verbal forward-looking statements attributable to Vanda or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein.  Vanda cautions investors not to rely too heavily on the forward-looking statements Vanda makes or that are made on its behalf.  The information in this release is provided only as of the date of this release, and Vanda undertakes no obligation, and specifically declines any obligation, to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. VANDA PHARMACEUTICALS INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)Three Months EndedMarch 31March 31(in thousands, except for share and per share amounts)

20132012Revenues:Licensing agreement

$

6,606$

6,606Royalty revenue1,4621,535Total revenues8,0688,141Operating expenses:Research and development7,96012,180General and administrative3,9583,909Intangible asset amortization369369Total operating expenses12,28716,458Loss from operations(4,219)(8,317)Other income46355Loss before tax benefit(4,173)(7,962)Tax benefit--Net loss

$

(4,173)$

(7,962)Net loss per share:Basic

$

(0.15)$

(0.28)Diluted

$

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SOURCE Vanda Pharmaceuticals Inc.
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