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

December 31, December 31, 2008 2007 Cash flows from operating activities: Net loss $(51,064,241) $(74,069,690) Adjustments to reconcile net income to net cash used in operating activities: Depreciation and amortization 530,805 571,586 Stock-based compensation 13,387,789 19,622,814 Loss on disposal of assets (173) 28,713 Accretion of discount on investments (235,163) (1,571,905) Changes in assets and liabilities: Prepaid expenses and other current assets 495,200 168,987 Deposits 150,000 - Accounts payable (2,475,697) 204,029 Accrued expenses (6,892,577) 3,465,028 Deferred grant revenue - (147,464) Other liabilities 148,728 86,644 Net cash used in operating activities (45,955,329) (51,641,258) Cash flows from investing activities: Purchases of property and equipment (943,659) (279,433) Proceeds from sales of property and equipment - 200,179 Purchases of marketable securities (14,786,080) (138,953,879) Proceeds from sales of marketable securities 11,258,094 3,577,859 Maturities of marketable securities 47,560,000 86,695,000 Net cash provided by (used in) investing activities 43,088,355 (48,760,274) Cash flows from financing activities: Proceeds from exercise of stock options and warrants
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SOURCE Vanda Pharmaceuticals Inc.
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