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Vanda Pharmaceuticals Reports Third Quarter 2008 Results
Date:10/30/2008

orm 10-Q, other unknown or unpredictable factors also could affect Vanda's results. There can be no assurance that the actual results or developments anticipated by Vanda will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Vanda. Therefore, no assurance can be given that the outcomes stated in such forward-looking statements and estimates will be achieved.

All written and verbal forward-looking statements attributable to Vanda or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Vanda cautions investors not to rely too heavily on the forward-looking statements Vanda makes or that are made on its behalf. The information in this release is provided only as of the date of this release, and Vanda undertakes no obligation, and specifically declines any obligation, to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

VANDA PHARMACEUTICALS INC.

(A Development Stage Enterprise)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

Three Months Ended Nine Months Ended

September 30, September 30, September 30, September 30,

2008 2007 2008 2007

Revenues from

services $- $- $- $-

Operating expenses:

Research and

development 3,792,424 13,874,248 20,375,998 34,660,132

General and

administrative 7,400,263 9,647,646 24,814,462 23,330,570

Total operating

expenses 11,192,687 23,521,894 45,190,460 57,990,702

Loss from

operations (11,192,687) (23,521,894) (4
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SOURCE Vanda Pharmaceuticals Inc.
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