WASHINGTON, Aug. 6, 2013 /PRNewswire/ -- Vanda
Pharmaceuticals Inc. (Vanda) (NASDAQ: VNDA) today announced
that it intends to offer and sell shares of its common stock in an
underwritten public offering. The offering is subject to market
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering. Vanda also expects to grant the underwriters a 30-day
option to purchase up to an additional 15% of the shares of common
stock offered in the public offering to cover over-allotments, if
any. All of the shares in the offering are to be sold by Vanda,
with net proceeds to be used for sales and marketing expenditures
which may include commercial launch activities for tasimelteon for
the treatment of Non-24-Hour Disorder following the receipt of
regulatory approval, if any, research and development activities
and other general corporate purposes.
Lazard Capital Markets LLC and Piper
Jaffray & Co. are acting as the joint book-running
managers of the offering.
A shelf registration statement on Form S-3 relating to the
public offering of the shares of common stock described above was
filed with the Securities and Exchange Commission (SEC) and
declared effective by the SEC on February
11, 2011. A preliminary prospectus supplement relating to
and describing the terms of the offering will be filed with the SEC
and will be available on the SEC's web site at www.sec.gov. When
available, copies of the preliminary prospectus supplement relating
to these securities may also be obtained from the offices of Lazard
Capital Markets LLC at 30 Rockefeller Plaza, 60th Floor,
New York, NY, 10020 or via
telephone at (800) 542-0970 or the offices of Piper Jaffray & Co., by mail at 800 Nicollet
Mall, J12S03, Minneapolis, MN
55402, by telephone at (800) 747-3924 or by e-mail at
prospectus@pjc.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of these securities, nor will
there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale is not
permitted.
About Vanda Pharmaceuticals Inc.
Vanda Pharmaceuticals Inc. is a biopharmaceutical company
focused on the development and commercialization of products for
the treatment of central nervous system disorders. For more
information on Vanda, please visit
www.vandapharma.com.
Cautionary Statement Regarding Forward-Looking
Statements
This communication includes forward-looking statements
regarding events, trends and business prospects, which may affect
Vanda's future operating results and financial position. Such
statements, including, but not limited to, those regarding
statements about Vanda's expectations regarding its fundraising
efforts, including the closing of the public offering and the
underwriter's exercise of its over-allotment option, involve known
and unknown risks that relate to Vanda's future events or future
financial performance and the actual results could differ
materially from those discussed in this communication. Risks and
uncertainties that may cause Vanda's actual results to differ
materially from those discussed in this communication can be found
in the "Risk Factors" section of Vanda's Form 10-K, Forms 10-Q and
its other filings with the Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on these
forward-looking statements that speak only as of the date hereof,
and Vanda assumes no responsibility to update or revise any
forward-looking statements contained in this communication to
reflect events, trends or circumstances after the date of this
communication.
Company Contact:
Jim Kelly
Senior Vice President and Chief Financial Officer
Vanda Pharmaceuticals Inc.
(202) 734-3428
jim.kelly@vandapharma.com
Media Contact:
Laney Landsman
Assistant Vice President
Makovsky
(212) 508-9643
llandsman@makovsky.com
SOURCE Vanda Pharmaceuticals Inc.