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Vanda Pharmaceuticals Reports Fourth Quarter and Full Year 2007 Results

905) (378,739)

Changes in assets and liabilities:

Prepaid expenses and other

current assets 168,987 270,745

Deposits - 690,000

Accounts payable 204,029 526,711

Accrued expenses 3,465,028 3,811,373

Deferred grant revenue (147,464) -

Other liabilities 86,644 234,833

Net cash used in operating

activities (51,641,258) (51,619,518)

Cash flows from investing activities:

Purchases of property and equipment (279,433) (1,354,156)

Proceeds from sales of property

and equipment 200,179 -

Purchases of marketable securities (138,953,879) (102,232,608)

Proceeds from sales of marketable

securities 3,577,859 82,137,888

Maturities of marketable securities 86,695,000 29,670,000

Net cash provided by (used in)

investing activities (48,760,274) 8,221,124

Cash flows from financing activities:

Principal payments on obligations

under capital lease - (1,540)

Principal payments on note payable - (141,074)

Proceeds from exercise of stock options

and warrants 148,640 127,115

Proceeds from issuance of common stock,

net of issuance costs 111,254,850 53,329,951

Net cash provided by

financing activities 111,403,490 53,314,452

Effect of foreign currency translation (1,320) 22

Net incr

SOURCE Vanda Pharmaceuticals Inc.
Copyright©2008 PR Newswire.
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