Vanda Pharmaceuticals, Inc. To Announce First Quarter 2006 Financial Results On May 18, 2006

ROCKVILLE, Md., May 11 /PRNewswire-FirstCall/ -- Vanda Pharmaceuticals Inc. , a biopharmaceutical company focused on the development and commercialization of clinical-stage product candidates for central nervous system disorders, today announced it will release results for the quarter ended March 31, 2006, on Thursday, May 18, 2006, before the market opens. A full text copy of the release will be disseminated at that time.

Mihael H. Polymeropoulos, M.D., president and chief executive officer, will host a conference call to discuss the results and other corporate developments at 10:30 AM ET on Thursday, May 18, 2006. Also participating on the call will be Steven A. Shallcross, senior vice president and CFO. To participate in the conference call, dial the appropriate number below shortly before the 10:30 AM start time and ask for the Vanda Pharmaceuticals conference call hosted by Dr. Polymeropoulos.

The teleconference dial-in numbers are as follows: Domestic callers 1-800-299-7098 International callers 1-617-801-9715

The conference call will be broadcast simultaneously and archived on the Company’s web site, www.vandapharma.com. Investors should go to the web site at least 15 minutes early to register, download, and install any necessary audio software.

A replay of the call will be available on Thursday, May 18, 2006, beginning at 12:30 PM ET and will be accessible until Thursday, May 25, 2006, at 5:00 PM ET. The replay call-in number is 1-888-286-8010 for domestic callers and 1-617-801-6888 for international callers. The access number is 88406096.

About Vanda Pharmaceuticals Inc.:

Vanda Pharmaceuticals Inc. is a biopharmaceutical company focused on the development and commercialization of clinical-stage product candidates for central nervous system disorders. The Company has three product candidates in clinical development. Vanda’s lead product candidate, iloperidone, is a compound for the treatment of schizophrenia and bipolar disorder and is in a Phase III clinical trial for schizophrenia. Vanda’s second product candidate, VEC-162, is a compound for the treatment of insomnia and depression which is currently in a Phase III clinical trial for insomnia. Vanda’s third product candidate, VSF-173, is a compound for the treatment of excessive sleepiness and is ready for a Phase II clinical trial. For more on Vanda Pharmaceuticals Inc., please visit www.vandapharma.com.

Vanda Pharmaceuticals Inc.

CONTACT: Steven A. Shallcross, Senior Vice President, Chief FinancialOfficer and Treasurer of Vanda Pharmaceuticals Inc., +1-240-599-4500,sshallcross@vandapharma.com

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