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Vanda Pharmaceuticals Reports Second Quarter 2011 Results

ults or developments anticipated by Vanda will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Vanda. Therefore, no assurance can be given that the outcomes stated in such forward-looking statements and estimates will be achieved.

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 EndedSix Months EndedJune 30,June 30,June 30,June 30,(In thousands, except for per share amounts)

2011201020112010Revenues:Licensing agreement





13,284Royalty revenue752701,6472,137Product sales-1,542-5,290Total revenues7,4308,29014,93120,711Operating expenses:Cost of sales - product-1,516-2,891Research and development5,9992,40310,2664,444General and administrative2,5722,8425,4305,331Intangible asset amortization372372741741Total operating expenses8,9437,13316,43713,407Income (loss) from operations(1,513)1,157(1,506)7,304Other income:Interest income12186256133Total other income12186256133Income (loss) before income tax(1,392)1,243(1,250)7,437provision (benefit)Tax provision (benefit)(51)(37)(45)5,628Net income (loss)





1,809Net income (loss)per share:Basic






SOURCE Vanda Pharmaceuticals Inc.
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