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Vanda Pharmaceuticals Reports Second Quarter 2009 Results
Date:8/10/2009

0, 2009 2008 ---- ---- Cash flows from operating activities: Net loss $(18,896,088) $(32,691,011) Adjustments to reconcile net income to net cash used in operating activities: Depreciation and amortization 239,669 259,707 Stock-based compensation 5,279,366 9,074,594 Gain on disposal of assets - 211 Amortization of net discounts on short-term investments 96,599 (195,911) Amortization of intangible assets 229,352 - Changes in assets and liabilities: Prepaid expenses and other current assets 158,206 (247,729) Inventory (1,272,240) - Accounts payable 1,404,519 2,425,921 Accrued expenses 1,516,814 (5,979,353) Other liabilities 2,041 136,734 ----- ------- Net cash used in operating activities (11,241,762) (27,216,837) ----------- ----------- Cash flows from investing activities: Acquisition of intangible asset (7,000,000) - Purchases of property and equipment - (479,581) Purchases of marketable securities (8,082,729) (2,081,121) Proceeds from sales of marketable securities 126,547 4,875,076 Maturities of marketable securities 10,250,000 39,460,000
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SOURCE Vanda Pharmaceuticals Inc.
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