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Vanda Pharmaceuticals Reports Third Quarter 2008 Results


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

SOURCE Vanda Pharmaceuticals Inc.
Copyright©2008 PR Newswire.
All rights reserved

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