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

Total current liabilities 12,777,807 9,106,057

Long-term liabilities:

Deferred rent 354,042 238,413

Deferred grant revenue - 129,950

Other long-term liabilities - 28,984

Total liabilities 13,131,849 9,503,404

Stockholders' equity:

Common stock 26,653 22,129

Additional paid-in capital 257,600,368 126,578,588

Accumulated other comprehensive

gain (loss) 12,176 (3,269)

Deficit accumulated during the

development stage (173,910,266) (99,840,576)

Total stockholders' equity 83,728,931 26,756,872

Total liabilities and

stockholders' equity $96,860,780 $36,260,276

VANDA PHARMACEUTICALS INC.

(A Development Stage Enterprise)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

Year Ended

December 31, December 31,

2007 2006

Cash flows from operating activities:

Net loss $(74,069,690) $(63,511,168)

Adjustments to reconcile net income

to net cash used in operating

activities:

Depreciation and amortization 571,586 575,372

Employee and non-employee

stock-based compensation 19,622,814 6,131,827

Loss on disposal of assets 28,713 29,528

Accretion of discount on investments (1,571,
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SOURCE Vanda Pharmaceuticals Inc.
Copyright©2008 PR Newswire.
All rights reserved

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