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Vanda Pharmaceuticals Reports Fourth Quarter and Full Year 2008 Results
Date:2/11/2009

(A Development Stage Enterprise) CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended Year Ended Dec. 31, Dec. 31, Dec. 31, Dec. 31, 2008 2007 2008 2007 Revenues from services $- $- $- $- Operating expenses: Research and development 3,559,543 12,574,735 23,935,541 47,234,867 General and administrative 4,095,118 9,472,938 28,909,580 32,803,508 Total operating expenses 7,654,661 22,047,673 52,845,121 80,038,375 Loss from operations (7,654,661) (22,047,673) (52,845,121) (80,038,375) Interest income 150,642 1,299,076 1,780,880 5,907,219 Other income - - - 71,345 Total other income, net 150,642 1,299,076 1,780,880 5,978,564 Loss before tax provision (7,504,019) (20,748,597) (51,064,241) (74,059,811) Tax provision - (191) - 9,879 Net loss $(7,504,019) $(20,748,406) $(51,064,241) $(74,069,690) Basic and diluted net loss per share attributable to common stockholders $(0.28) $(0.78) $(1.92) $(2.81) Shares used in calculation of basic and diluted net loss per share attributable to common stockholders 26,652,187 26,644,540 26,650,126 26,360,177 VANDA PHARMACEUTICALS INC. (A Development Stage Enterprise) CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) December 31, December 31,
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