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Vanda Pharmaceuticals Confirms Receipt of Unsolicited, Non-Binding Indication of Interest from Cycle Group Holdings Ltd.
No Shareholder Action Required at This TimeWASHINGTON, June 6, 2024 /PRNewswire/ -- Vanda Pharmaceuticals Inc. ("Vanda" or the "Company") (Nasdaq: VNDA) today
About this update from Vanda Pharmaceuticals Inc.
[{"type":"text","content":"No Shareholder Action Required at This TimeWASHINGTON, June 6, 2024 /PRNewswire/ -- Vanda Pharmaceuticals Inc. (\"Vanda\" or the \"Company\") (Nasdaq: VNDA) today confirmed that it has received an unsolicited, non-binding indication of interest from Cycle Group Holdings Ltd. (\"Cycle Group\") to acquire the Company for $8.00 per share in cash.\n\n \n \n \n \n \n \n\n \nConsistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, the Vanda Board of Directors (the \"Board\") will carefully review and evaluate the indication of interest to determine the course of action that the Board believes is in the best interests of Vanda and its shareholders.\nVanda does not intend to comment further on the indication of interest before the Board has completed its review.\nThere is no action for shareholders to take at this time.\nAbout Vanda Pharmaceuticals Inc. Vanda is a leading global biopharmaceutical company focused on the development and commercialization of innovative therapies to address high unmet medical needs and improve the lives of patients. For more on Vanda Pharmaceuticals Inc., please visit www.vandapharma.com and follow us on X @vandapharma.\nCautionary Note Regarding Forward Looking StatementsVarious statements in this press release, including, but not limited to, statements regarding the Board's intention to review Cycle Group's indication of interest are \"forward-looking statements\" under securities laws. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements are based upon current expectations and assumptions that involve risks, changes in circumstances and uncertainties. Therefore, no assurance can be given that the results or developments anticipated by Vanda will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Vanda. Forward-looking statements in this press release should be evaluated together with the various risks and uncertainties that affect Vanda's business and market, particularly those identified in the \"Cautionary Note Regarding Forward-Looking Statements\", \"Risk Factors\" and \"Management's Discussion and Analysis of Financial Condition and Results of Operations\" sections of Vanda's most recent Annual ...