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

ilure of the company to become or remain profitable, Vanda's inability to obtain the capital necessary to fund its research and development activities, a loss of any of the company's key scientists or management personnel, and other factors that are described in the "Risk Factors" section (Part II, Item 1A) of Vanda's report on Form 10-Q for the quarter ended September 30, 2007 (File No. 000-51863). No forward-looking statements can be guaranteed and actual results may differ materially from such statements. The information in this release is provided only as of the date of this release, and Vanda undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

VANDA PHARMACEUTICALS INC.

(A Development Stage Enterprise)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

Three Months Ended Year Ended

December 31, December 31, December 31, December 31,

2007 2006 2007 2006

Revenues from

services $ - $ - $ - $ -

Operating expenses:

Research and

development 12,574,735 7,939,988 47,234,867 52,070,776

General and

administrative 9,472,938 4,467,225 32,803,508 13,637,664

Total

operating

expenses 22,047,673 12,407,213 80,038,375 65,708,440

Loss from

operations (22,047,673) (12,407,213) (80,038,375) (65,708,440)

Interest income 1,299,076 516,291 5,907,219 2,202,654

Interest expense - (4) - (4,833)

Other income - - 71,345 -

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SOURCE Vanda Pharmaceuticals Inc.
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