Vanda receives unsolicited acquisition proposal from Cycle Group at $8.00/share

Vanda Pharmaceuticals Inc.

Cycle Group Holdings Ltd. made an unsolicited, non-binding proposal to acquire Vanda for $8.00 per share in cash.
The proposal is subject to further review; no definitive agreement has been reached.
Vanda's Board will evaluate the indication with independent financial and legal advisors.
No shareholder action is required at this time; the Company will not comment further until Board review is complete.
Cycle Group's offer represents a premium over Vanda's recent closing price (not specified in filing).

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