Vanda raises $52.1 million in follow-on

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) raised $52.1 million through the sale of 4.7 million shares at $11.14 in a follow-on underwritten by Lazard; Piper Jaffray; and JMP Securities. Vanda proposed the follow-on late Tuesday, when its share price was $11.14. The company's tasimelteon ( VEC-162) is under Priority Review to treat non-24-hour sleep wake disorder in totally blind patients, with a Jan. 31, 2014, PDUFA date. Vanda has exclusive, worldwide rights to the melatonin MT1 and MT2 receptor agonist from Bristol-Myers Squibb Co. (NYSE:BMY) (see BioCentury Extra, July 30). ...