Believes the Substantial Premium Presented by Future Pak Merits Engagement

Believes a Sales Process Could Yield Well Over 100% Upside to the Stock

LOS ANGELES, April 19, 2024 (GLOBE NEWSWIRE) -- A fund managed by Butler Hall Capital LLC, with current ownership 350,000 shares of Vanda Pharmaceuticals Inc. (“Vanda” or the “Company”), has issued an open letter to the Company’s board of directors (the “Board”) regarding the potential bid for Vanda submitted by Future Pak, LLC (“Future Pak”).

A full copy of the letter is attached below and is available at: 
http://ml.globenewswire.com/Resource/Download/9ee5bd01-bdbc-43f7-af2d-e4c34004b336

Contacts:

Michael Rybak
424-644-6008

Brad Lundy
424-644-6009