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Vanda Pharmaceuticals Reports Fourth Quarter and Full Year 2007 Results
Date:2/14/2008

d marketable securities at the end of

the fourth quarter of 2007 totaled approximately $93.2 million,

compared to approximately $109.4 million as of September 30, 2007, and

approximately $31.9 million as of December 31, 2006.

FINANCIAL GUIDANCE

The company anticipates that its current cash balance will be sufficient to fund operations through the Fiapta(TM) PDUFA action date and into the fourth quarter of 2008. Vanda plans to focus its efforts primarily on completing and reporting the top-line results for the ongoing VEC-162 Phase III chronic insomnia clinical trial and continuing essential Fiapta(TM) pre-launch commercial activities.

CONFERENCE CALL

The company has scheduled a conference call for today, Thursday, February 14, 2008 at 10:30 AM ET. During the call, Mihael H. Polymeropoulos, M.D., President and CEO, and Steven A. Shallcross, Sr. Vice President and CFO, will discuss quarterly results and other corporate activities. Investors can call 1-866-578-5747 (domestic) and 1-617-213-8054 (international) prior to the 10:30 AM start time and ask for the Vanda Pharmaceuticals conference call hosted by Dr. Polymeropoulos. A replay of the call will be available Thursday, February 14, 2008, at 12:30 PM ET and will be accessible until Thursday, February 21, 2008, at 5:00 PM ET. The replay call-in number is 1-888-286-8010 for domestic callers and 1-617-801-6888 for international callers. The access number is 16341258.

The conference call will be broadcast simultaneously on the company's Web site, http://www.vandapharma.com. Investors should click on the Investor Relations tab and are advised to go to the Web site at least 15 minutes early to register, download, and install any necessary software. The call will also be archived on the Vanda Web site for a period of 30 days, through March 15, 2008.

ABOUT VANDA PHARMACEUTICALS INC.:

Vanda Pharma
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SOURCE Vanda Pharmaceuticals Inc.
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