Vanda Pharmaceuticals Inc. (Vanda), is a biopharmaceutical company focused on the development and commercialization of products for central nervous system disorders. The Company�s products include Fanapt a compound for the treatment of schizophrenia andTasimelteon is a compound for the treatment of sleep and mood disorders, including Circadian Rhythm Sleep Disorders (CRSD). Fanapt is a compound for the treatment of schizophrenia. Novartis has exclusive commercialization rights to all formulations of Fanapt in the United States and Canada. Novartis is responsible for the further clinical development activities in the United States and Canada, including the development of a long-acting injectable (or depot) formulation of Fanapt. Novartis conducted a two-month Phase I/IIa safety trial of this formulation in schizophrenia patients, in which it demonstrated the benefit of consistent release over a four-week time period with no greater side effects relative to oral dosing.