ROCKVILLE, Md., Jan. 31, 2011 /PRNewswire/ — Vanda
Pharmaceuticals Inc. (Vanda) (Nasdaq:
VNDA), a biopharmaceutical company focused on the development
and commercialization of products for central nervous system
disorders, today announced that it has filed a universal shelf
registration statement on Form S-3 with the Securities and Exchange
Commission (SEC). Upon being declared effective by the SEC, the
shelf registration statement will allow the Company to offer and
sell, from time to time, up to $50 million of common stock,
preferred stock, debt securities, warrants, or any combination
thereof in one or more future public offerings. The actual amount
and type of securities, or combination of securities, and the terms
of those securities, will be determined at the time of sale, if
such sale occurs. If and when a particular series of securities is
offered, the prospectus supplement relating to that offering will
set forth Vanda’s intended use of the net proceeds received from
the sale of those securities.

The filing of the shelf registration statement is designed to
provide Vanda with greater flexibility to take advantage of
acquisition, financing and other business opportunities when and if
such opportunities arise. As of the date of this release, Vanda has
no specific plans to issue securities under the shelf registration
statement, and is not required to offer any securities in the
future.

The shelf registration statement has not yet become effective.
The securities offered by Vanda under the shelf registration
statement may not be sold nor may offers to buy be accepted before
the time the shelf registration statement becomes effective, nor
may sales be effected in the absence of a definitive prospectus and
a prospectus supplement setting forth the terms and conditions of
any specific offering of securities.

This press release shall not constitute an of

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