Vanda neurology news

Vanda responded to a proposal by Tang Capital Partners LP, submitted in an SEC filing last month, that the shareholder's intent to liquidate the biotech is not in the best interest of Vanda or its stockholders. Vanda also will oppose a slate of two board nominees proposed by the shareholder. Tang Capital requested the board promptly take all necessary action to liquidate Vanda's remaining assets and return all remaining capital to the company's stockholders. The shareholder also said it intends to nominate Kevin Tang, managing director at Tang Capital Management LLC, and Andrew Levin, a principal at Tang Capital Management, to the biotech's board at the 2009 Annual Meeting of Stockholders. Tang Capital holds a 14.9% stake in Vanda. ...