Vanda Pharmaceuticals Announces Withdrawal of Director Nominees and Proposal to Liquidate Submitted by Tang Capital
07 5월 2009 - 10:00PM
PR Newswire (US)
ROCKVILLE, Md., May 7 /PRNewswire-FirstCall/ -- Vanda
Pharmaceuticals Inc. (NASDAQ:VNDA) ("Vanda" or the "Company")
announced today that Tang Capital Partners, LP ("TCP") has ended
its proxy contest by withdrawing its nominations of director
candidates for election to Vanda's Board of Directors and its
stockholder proposal to liquidate the Company. TCP had previously
notified the Company of its intention to solicit proxies for the
election of two of its candidates to the Vanda Board at the
Company's 2009 Annual Meeting and for its proposal that the Board
take action to liquidate the Company. Kevin Tang, the managing
director of the general partner of TCP, notified Vanda of TCP's
intention not to pursue a proxy contest on May 6, 2009 in an email
to Vanda's Chief Executive Officer, Mihael H. Polymeropoulos, M.D.
and Chairman of the Board, Argeris N. Karabelas, Ph.D. TCP's
withdrawal of its nominations and stockholder proposal follows
Vanda's announcement that the U.S. Food & Drug Administration
had granted marketing approval of its product, Fanapt(TM)
(iloperidone), for the acute treatment of adult patients with
schizophrenia. About Vanda Vanda Pharmaceuticals Inc. is a
biopharmaceutical company focused on the development and
commercialization of clinical-stage products for central nervous
system disorders. For more on Vanda, please visit
http://www.vandapharma.com/. IMPORTANT INFORMATION/SOLICITATION
PARTICIPANTS LEGEND Vanda Pharmaceuticals Inc. and its directors
and executive officers may be deemed to be participants in the
solicitation of proxies from the stockholders of Vanda in
connection with the upcoming annual meeting of stockholders.
Stockholders may obtain information regarding the names,
affiliations and interests of such individuals in Vanda's proxy
statement filed with the Securities and Exchange Commission (the
"SEC") on April 2, 2008, for the 2008 annual meeting. To the extent
holdings of Vanda's securities have changed since the information
set forth in that proxy statement, such changes have been reflected
on Initial Statements of Beneficial Ownership of Securities on Form
3 and Statements of Change in Ownership of Securities on Form 4
filed with the SEC. Updated information regarding the names,
affiliations and interests of these directors and executive
officers in connection with the matters to be voted on at the
annual meeting will be included in the proxy statement filed by
Vanda in connection with the annual meeting. In addition, Vanda
files annual, quarterly and special reports, proxy and information
statements, and other information with the SEC. These documents are
available free of charge at the SEC's web site at
http://www.sec.gov/ or from Vanda at http://www.vandapharma.com/.
STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT CAREFULLY WHEN
IT IS AVAILABLE, AS IT WILL CONTAIN IMPORTANT INFORMATION THAT
STOCKHOLDERS SHOULD CONSIDER BEFORE MAKING ANY VOTING OR INVESTMENT
DECISION. DATASOURCE: Vanda Pharmaceuticals Inc. CONTACT:
Investors, Stephanie R. Irish, +1-240-599-4500, , or Media,
Cristina Murphy, +1-240-599-4500, , both of Vanda Pharmaceuticals
Inc.; or Brad Miles of BMC Communications Group, LLC for Vanda
Pharmaceuticals Inc., +1-212-477-9007, Web Site:
http://www.vandapharma.com/
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