ROCKVILLE, Md., Jan. 31, 2011 /PRNewswire/ -- Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA ), a biopharmaceutical company focused on the development and commercialization of products for central nervous system disorders, today announced that it has filed a universal shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC). Upon being declared effective by the SEC, the shelf registration statement will allow the Company to offer and sell, from time to time, up to $50 million of common stock, preferred stock, debt securities, warrants, or any combination thereof in one or more future public offerings. The actual amount and type of securities, or combination of securities, and the terms of those securities, will be determined at the time of sale, if such sale occurs. If and when a particular series of securities is offered, the prospectus supplement relating to that offering will set forth Vanda's intended use of the net proceeds received from the sale of those securities.
The filing of the shelf registration statement is designed to provide Vanda with greater flexibility to take advantage of acquisition, financing and other business opportunities when and if such opportunities arise. As of the date of this release, Vanda has no specific plans to issue securities under the shelf registration statement, and is not required to offer any securities in the future.
The shelf registration statement has not yet become effective. The securities offered by Vanda under the shelf registration statement may not be sold nor may offers to buy be accepted before the time the shelf registration statement becomes effective, nor may sales be effected in the absence of a definitive prospectus and a prospectus supplement setting forth the terms and conditions of any specific offering of securities.
This press release shall not constitute an of