Board Has Progressive That Fresh Proposal Is Now not within the Best possible Pursuits of the Corporate or Stockholders

WASHINGTON, Oct. 14, 2024 /PRNewswire/ — Vanda Prescribed drugs Inc. (“Vanda” or the “Company”) (Nasdaq: VNDA) lately showed that it won a 2nd unsolicited, non-binding proposal from Cycle Crew Holdings Ltd. (“Cycle Group”) to obtain the Corporate for $8.00 consistent with proportion in money.

Cycle Crew’s 2nd proposal used to be won by way of Vanda on September 23, 2024. The phrases of Cycle Crew’s proposal are economically just like the prior to now evaluated and unfavourable indication of hobby won from Cycle Crew on Might 24, 2024. In keeping with its fiduciary tasks and in session with its free criminal and fiscal advisors, Vanda’s Board of Administrators in moderation reviewed the second one proposal and unanimously ambitious that it considerably undervalues Vanda and isn’t in the most efficient pursuits of the Corporate and its stockholders. Accordingly, the Board has ambitious to not pursue the proposal.

The Vanda Board once more evaluated all facets of Vanda’s trade and when compared Vanda’s possibilities for developing stockholder price to the unsolicited proposal. The Board concluded that the actual proposal from Cycle Crew is every other opportunistic effort to buy the Corporate’s stocks at a cut price to Vanda’s intrinsic price. As a part of this procedure, the Board up to date its research of the Corporate’s medical building pipeline, increasing industrial presence and demanding money stability.

The Board and control group stay assured that Vanda’s enlargement profile, sturdy money place and environment friendly operations place the Corporate neatly for vital long-term price forming some distance in huge of the distinction presented by way of Cycle Crew.

There is not any motion for stockholders to snatch at this day.

About Vanda Prescribed drugs Inc.
Vanda is a eminent world biopharmaceutical corporate targeted at the building and commercialization of cutting edge treatments to deal with top unmet clinical wishes and toughen the lives of sufferers. For extra on Vanda Prescribed drugs Inc., please seek advice from www.vandapharma.com and practice us on X @vandapharma.

Cautionary Notice Relating to Ahead Taking a look Statements
Diverse statements on this press shed, together with, however no longer restricted to, statements in regards to the Board’s evaluation and analysis of Cycle Crew’s proposal are “forward-looking statements” below securities regulations. All statements alternative than statements of historic reality are statements which may be deemed forward-looking statements. Ahead-looking statements are based totally upon flow expectancies and suppositions that contain dangers, adjustments in instances and uncertainties. Due to this fact, deny guarantee may also be for the reason that the effects or traits expected by way of Vanda shall be learned or, although considerably learned, that they’re going to have the predicted repercussions to, or results on, Vanda. Ahead-looking statements on this press shed must be evaluated along side the diverse dangers and uncertainties that impact Vanda’s trade and marketplace, specifically the ones recognized within the “Cautionary Note Regarding Forward-Looking Statements”, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” categories of Vanda’s most up-to-date Annual Record on Method 10-Ok, as up to date by way of Vanda’s next Quarterly Stories on Method 10-Q, Stream Stories on Method 8-Ok and alternative filings with the U.S. Securities and Trade Fee, that are to be had at www.sec.gov.

All written and verbal forward-looking statements as a result of Vanda or anyone performing on its behalf are expressly certified of their entirety by way of the cautionary statements contained or referred to herein. Vanda cautions buyers to not depend too closely at the forward-looking statements Vanda makes or which can be made on its behalf. The ideas on this press shed is equipped handiest as of the year of this press shed, and Vanda undertakes deny legal responsibility, and in particular declines any legal responsibility, to replace or revise publicly any forward-looking statements, whether or not because of unused data, date occasions or in a different way, aside from as required by way of legislation.

Vanda Company Touch:
Kevin Moran
Senior Vice President, Monetary Officer and Treasurer
Vanda Prescribed drugs Inc.
202-734-3400
[email protected]

Jim Yellowish / Jack Kelleher / Dan Moore
Accumulated Methods
[email protected]

SOURCE Vanda Prescribed drugs Inc.

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