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

7,017

Accretion of discount on investments (212,664) (1,315,609)

Changes in assets and liabilities:

Prepaid expenses and other

current assets (1,160,103) (1,414,371)

Accounts payable (2,089,044) 660,697

Accrued expenses (6,708,552) 5,544,227

Deferred grant revenue - (140,599)

Other liabilities 142,732 13,258

Net cash used in operating

activities (40,505,574) (35,019,750)

Cash flows from investing activities:

Purchases of property and equipment (943,659) (249,728)

Proceeds from sales of property and

equipment - 119,054

Purchases of marketable securities (11,491,577) (107,570,370)

Proceeds from sales of marketable

securities 10,373,251 -

Maturities of marketable securities 42,060,000 60,395,000

Net cash provided by (used in)

investing activities 39,998,015 (47,306,044)

Cash flows from financing activities:

Proceeds from exercise of stock

options and warrants - 103,176

Proceeds from issuance of common

stock, net of issuance costs - 111,254,850

Net cash provided by financing

activities - 111,358,026

Effect of foreign currency translation 16,745 (6,654)

Net increase (decrease) in cash and

cash equivalents (490,814) 29,025,578

Cash and cash equivalents, beginning

of period 41,929,53
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SOURCE Vanda Pharmaceuticals Inc.
Copyright©2008 PR Newswire.
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