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Vanda Pharmaceuticals Reports Third Quarter 2009 Results
Date:11/2/2009

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,
                            2009          2008          2009          2008
                            ----          ----          ----          ----
    Revenue                   $-            $-            $-            $-
                              --            --            --            --
    Operating
     expenses:
      Cost of sales      376,792             -       606,143             -
      Research and
       development     2,091,984     3,792,424    11,620,918    20,375,998
      General and
       administrative  5,266,434     7,400,263    14,478,786    24,814,462
                       ---------     ---------    ----------    ----------
        Total
         operating
         expenses      7,735,210    11,192,687    26,705,847    45,190,460
                       ---------    ----------    ----------    ----------

    Loss from
     operations       (7,735,210)  (11,192,687)  (26,705,847)  (45,190,460)

    Interest income        9,842       323,476        84,391     1,630,238

    Net loss         $(7,725,368) $(10,869,211) $(26,621,456) $(43,560,222)
                     ===========  ============  ============  ============

    Basic and diluted
     net loss per share
     attributable to
     common stockholders  $(0.28)       $(0.41)       $(0.99)       $(1.63)
                          
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SOURCE Vanda Pharmaceuticals Inc.
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