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Vanda Pharmaceuticals Reports Second Quarter 2011 Results
Date:8/4/2011

ax provision

(1,250)7,437(8,687)-117%Tax provision (benefit)

(45)5,268(5,313)-101%Net income (loss)

(1,205)1,809(3,014)-167%Diluted net income (loss) per share

$
(0.04)$
.06$
(0.10)-167%Second Quarter 2011 Key Financial Figures(1) Three Months Ended June 30March 31(in thousands, except per share amounts)

20112011  Change ($)Change (%)Total revenues

$
7,430$
7,501$
(71)-1%Research & development  expenses

5,9994,2671,73241%General & administrative expenses

2,5722,858(286)-10%Non-cash stock-based compensation(2)

1,3251,604(279)-17%Income (loss) before tax provision

(1,392)142(1,534)NATax provision (benefit)

(51)6(57)NANet income (loss)

(1,341)136(1,477)NADiluted net income (loss) per share

$
(0.05)$
.00$
(0.05)NASelect Cash Flow Data(1)
 (in thousands)

 Six Months Ending June 30June 3020112010Net cash provided by (used in)Operating activities

(8,883)(728)Investing activities

16,710(61,311)Financing activities

-2,395Net change in cash and cash equivalents

$
7,827$
(59,644)Select Balance Sheet Data(1) June 30March 31June 30(in thousands)

201120112010Total cash and marketable securities

$
88,399$
94,555$
207,117(1) Unaudited

(2) Non-cash stock-based compensation is allocated to both Research & development and General & administrative expenses OPERATIONAL HIGHLIGHTS   Fanapt® prescriptions, as reported by IMS, reached 30,000 in the second quarter of 2011.  This represents a 17% increase over first quarter 2011 prescriptions.  Since its launch in January 2010, over 110,000 Fanapt® prescriptions have been written in the U.S.

Vanda continues its effort to expand the availability of Fanapt® to markets outside the U.S. and Canada.  On July 22, 2011, the European Me
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SOURCE Vanda Pharmaceuticals Inc.
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