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

5,190,460) (57,990,702)

Interest income 323,476 1,514,708 1,630,238 4,608,143

Other income - 71,345 - 71,345

Total other

income, net 323,476 1,586,053 1,630,238 4,679,488

Loss before tax

provision (10,869,211) (21,935,841) (43,560,222) (53,311,214)

Tax provision - 7,660 - 10,070

Net loss $(10,869,211) $(21,943,501) $(43,560,222) $(53,321,284)

Basic and diluted

net loss per share

attributable to

common

stockholders $(0.41) $(0.82) $(1.63) $(2.03)

Shares used in

calculation of

basic and diluted

net loss per share

attributable to

common

stockholders 26,650,534 26,612,853 26,649,439 26,223,151

VANDA PHARMACEUTICALS INC.

(A Development Stage Enterprise)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

September 30, 2008 December 31, 2007

ASSETS

Current assets:

Cash and cash equivalents $41,438,719 $41,929,533

Marketable securities 10,224,854 43,243,960

Prepaid expenses, deposits and

other current assets 2,942,703 1,781,881

Total current assets 54,606,276 86,955,374

Marketable securities, long-term - 7,979,331

Property and equipment, net 1,885,775 1,345,845

Deposits 150,000 150,000

Restricted cash 430,230 430,230

Total assets $57,072,281 $96,860,780
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SOURCE Vanda Pharmaceuticals Inc.
Copyright©2008 PR Newswire.
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