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

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable $899,035 $2,988,069

Accrued expenses 3,082,442 9,789,738

Total current liabilities 3,981,477 12,777,807

Long-term liabilities:

Deferred rent 496,774 354,042

Total liabilities 4,478,251 13,131,849

Stockholders' equity:

Common stock 26,653 26,653

Additional paid-in capital 270,279,679 257,600,368

Accumulated other comprehensive

income (loss) (241,814) 12,176

Deficit accumulated during the

development stage (217,470,488) (173,910,266)

Total stockholders' equity 52,594,030 83,728,931

Total liabilities and

stockholders' equity $57,072,281 $96,860,780

VANDA PHARMACEUTICALS INC.

(A Development Stage Enterprise)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

Nine Months Ended

September 30, September 30,

2008 2007

Cash flows from operating activities:

Net loss $(43,560,222) $(53,321,284)

Adjustments to reconcile net income

to net cash used in operating

activities:

Depreciation and amortization 403,141 446,806

Stock-based compensation 12,679,311 14,480,108

Loss on disposal of assets (173) 2
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SOURCE Vanda Pharmaceuticals Inc.
Copyright©2008 PR Newswire.
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