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Vanda Pharmaceuticals Reports Third Quarter 2012 Results
Date:11/7/2012

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 EndedNine Months EndedSeptember 30September 30September 30September 30(in thousands, except for per share amounts)

2012201120122011Revenues:Licensing agreement$

6,753$

6,753$

20,037$

20,037Royalty revenue1,5351,2164,7702,863Total revenues8,2887,96924,80722,900Operating expenses:Research and development10,1598,17434,82918,440General and administrative3,1472,71110,6578,141Intangible asset amortization3773771,1181,118Total operating expenses13,68311,26246,60427,699Loss from operations(5,395)(3,293)(21,797)(4,799)Other income69106502362Loss before tax benefit(5,326)(3,187)(21,295)(4,437)Tax benefit-(113)-(158)Net loss$

(5,326)$

(3,074)$

(21,295)$

(4,279)Net loss per share:Basic$

(0.19)$

(0.11)$

(0.75)$

(0.15)Diluted$

(0.19)$

(0.11)$

(0.75)$

(0.15)Shares used in calculation of net lossper share:Basic 28,226,74328,107,36328,226,74328,104,749Diluted28,226,74328,107,36328,226,74328,104,749VANDA PHARMACEUTICALS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)(in thousands)September 30, 2012December 31, 2011ASSETSCurrent assets:Cash and cash equivalents$

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SOURCE Vanda Pharmaceuticals Inc.
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