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Vanda Pharmaceuticals Reports First Quarter 2012 Results
Date:5/8/2012

All written and verbal forward-looking statements attributable to Vanda or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Vanda cautions investors not to rely too heavily on the forward-looking statements Vanda makes or that are made on its behalf. The information in this release is provided only as of 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.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)Three Months EndedMarch 31March 31(In thousands, except for per share amounts)

20122011Revenues:Licensing agreement

$

6,606$

6,606Royalty revenue1,535895
Total revenues
8,1417,501Operating expenses:Research and development12,1804,267General and administrative3,9092,858Intangible asset amortization369369
Total operating expenses
16,4587,494Income (loss) from operations(8,317)7Other income355135Income (loss) before income tax(7,962)142provisionTax provision-6Net income (loss)

$

(7,962)$

136Net income (loss)per share:Basic

$

(0.28)$

0.00Diluted

$

(0.28)$

0.00Shares used in calculation of net income (loss) per share:Basic 28,226,74328,101,418Diluted28,226,74328,936,835 VANDA PHARMACEUTICALS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)(In thousands)March 31, 2012December 31, 2011ASSETSCurrent assets:Cash and cash equivalents$

108,094$

87,923Marketable securities, current49,15660,961Accounts receivable1,5
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SOURCE Vanda Pharmaceuticals Inc.
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