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  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  <DIV align="right" style="font-size: 10pt; margin-top: 12pt">As filed with the Securities and Exchange Commission on October&nbsp;18, 2006<br>Registration No.&nbsp;333-
  </DIV>
  
  
  <DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
  <DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>
  
  
  
  
  <DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
  SECURITIES AND EXCHANGE COMMISSION</B>
  </DIV>
  
  <DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
  </DIV>
  
  
  <DIV align="center">
  <DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV>
  </DIV>
  
  
  
  <DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
  </DIV>
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>REGISTRATION STATEMENT<BR>
  UNDER<BR>
  The Securities Act of 1933</B>
  </DIV>
  
  
  <DIV align="center">
  <DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV>
  </DIV>
  
  
  
  <DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>VANDA PHARMACEUTICALS INC.</B>
  </DIV>
  
  <DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>
  
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="47%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="47%">&nbsp;</TD>
  </TR>
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD align="center" valign="top"><B>Delaware</B><BR>
  (State or other jurisdiction of <BR>
  incorporation or organization)
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top"><B>03-0491827</B><BR>
  (IRS Employer<BR>
  Identification No.)</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>9605 Medical Center Drive<BR>
  SUITE 300<BR>
  ROCKVILLE, MARYLAND 20850</B><BR>
  (Address of principal executive offices) (Zip Code)
  </DIV>
  
  
  <DIV align="center">
  <DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV>
  </DIV>
  
  
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>VANDA PHARMACEUTICALS INC. SECOND AMENDED AND RESTATED MANAGEMENT EQUITY PLAN</B><BR>
  (Full title of the Plan)
  </DIV>
  
  
  <DIV align="center">
  <DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV>
  </DIV>
  
  
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Mihael H. Polymeropoulos, M.D.<BR>
  Chief Executive Officer<BR>
  Vanda Pharmaceuticals Inc.<BR>
  9605 Medical Center Drive<BR>
  SUITE 300<BR>
  ROCKVILLE, MARYLAND 20850</B><BR>
  (Name and address of agent for service)<BR>
  <B>(240)&nbsp;599-4500</B><BR>
  (Name, address and telephone number, including area code, of agent for service)
  </DIV>
  
  
  <DIV align="center">
  <DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV>
  </DIV>
  
  
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF REGISTRATION FEE</B>
  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="1%">&nbsp;</TD>
      <TD width="44%">&nbsp;</TD>
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      <TD width="2%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="8%">&nbsp;</TD>
      <TD width="8%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
  
      <TD width="1%">&nbsp;</TD>
  </TR><TR style="font-size: 1px" valign="bottom">
      <TD nowrap align="left" colspan="21" style="border-bottom: 3px double #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>
  
      <TD>&nbsp;</TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>
  
      <TD>&nbsp;</TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Amount to be</B></TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Offering Price per</B></TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Aggregate Offering</B></TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
      <TD width="1%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>
  
      <TD nowrap align="left"><B>Title of Securities to be Registered</B></TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Registered(1)</B></TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Share(2)</B></TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Price(2)</B></TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Registration Fee</B></TD>
      <TD width="1%">&nbsp;</TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                      <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Stock Options and Common Stock,
  $0.001 par value</DIV></TD>
      <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="center" style="border-top: 2px solid #000000">1,569,667 shares</TD>
      <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD align="right" style="border-top: 2px solid #000000">$</TD>
      <TD align="right" style="border-top: 2px solid #000000">10.44</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD align="right" style="border-top: 2px solid #000000">$</TD>
      <TD align="right" style="border-top: 2px solid #000000">16,387,323.48</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD align="right" style="border-top: 2px solid #000000">$</TD>
      <TD align="right" style="border-top: 2px solid #000000">1,753.44</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 1px" valign="bottom">
      <TD nowrap align="left" colspan="21" style="border-top: 3px double #000000">&nbsp;</TD>
  </TR>
  
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  <DIV align="left">
  <DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
  </DIV>
  
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR>
      <TD width="3%"></TD>
      <TD width="1%"></TD>
      <TD width="96"></TD>
  </TR>
  
  <TR valign="top">
      <TD nowrap align="left">(1)</TD>
      <TD>&nbsp;</TD>
      <TD><DIV style="text-align: justify">This Registration Statement shall also cover any additional shares of Common Stock
  which become issuable under the Second Amended and Restated Management Equity Plan by
  reason of any stock dividend, stock split, recapitalization or other similar transaction
  effected without the receipt of consideration which results in an increase in the number of
  the outstanding shares of Common Stock of Vanda Pharmaceuticals Inc.</DIV></TD>
  </TR>
  
  <TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD nowrap align="left">(2)</TD>
      <TD>&nbsp;</TD>
      <TD><DIV style="text-align: justify">Estimated solely for the purpose of calculating the amount of the registration fee
  pursuant to Rule 457(c) and (h)(1) under the Securities Act. The offering price per share
  and aggregate offering price for the unissued stock options and shares of common stock are
  based upon the average of the high and low prices of the Registrant&#146;s common stock as
  reported on the Nasdaq National Market System on October&nbsp;16, 2006.</DIV></TD>
  </TR>
  
  </TABLE>
  
  
  
  <DIV style="margin-top: 6pt">
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  
  
  </TABLE>
  </DIV>
  <P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  <DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  
  
  </TABLE>
  </DIV>
  
  <!-- TOC -->
  <A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>
  
  <P><CENTER>
  <TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
  <TR>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="76%"></TD>
  </TR>
  <TR><TD colspan="9"><A HREF="#000">PART II</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;3. <U>Incorporation of Documents by Reference</U></A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;4. <u>Description of Securities</u></A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;5. <u>Interests of Named Experts and Counsel</u></A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;6. <u>Indemnification of Directors and Officers</u></A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;7. <u>Exemption from Registration Claimed</u></A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;8. <u>Exhibits</u></A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;9. <U>Undertakings</U></A></TD></TR>
  <TR><TD colspan="9"><A HREF="#008">SIGNATURES</A></TD></TR>
  <TR><TD colspan="9"><A HREF="#009">EXHIBIT INDEX</A></TD></TR>
  <TR><TD colspan="9"><A HREF="b62763vpexv5w1.htm">EX-5.1 Opinion and Consent of Gunderson Dettmer</A></TD></TR>
  <TR><TD colspan="9"><A HREF="b62763vpexv23w2.htm">EX-23.2 Consent of Pricewaterhouse Coopers LLP</A></TD></TR>
  </TABLE>
  </CENTER>
  <!-- /TOC -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  
  
  
  <!-- link1 "PART II" -->
  <DIV align="left"><A NAME="000"></A></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
  </DIV>
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
  </DIV>
  
  <!-- link2 "Item&nbsp;3. <U>Incorporation of Documents by Reference</U>" -->
  <DIV align="left"><A NAME="001"></A></DIV>
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;3. <U>Incorporation of Documents by Reference</U>
  </DIV>
  
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanda Pharmaceuticals Inc. (the &#147;Registrant&#148;) hereby incorporates by reference into this
  Registration Statement the following documents previously filed with the Securities and Exchange
  Commission (the &#147;SEC&#148;):
  </DIV>
  
  <DIV style="margin-top: 6pt">
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="2%" style="background: transparent">&nbsp;</TD>
      <TD width="2%" nowrap align="left">1.1</TD>
      <TD width="1%">&nbsp;</TD>
      <TD><DIV style="text-align: justify">The Registrant&#146;s prospectus filed with the SEC pursuant to Rule 424(b) under
  the Securities Act of 1933, as amended (the &#147;1933 Act&#148;), in connection with the
  Registrant&#146;s Registration Statement No.&nbsp;333-130759 on Form S-1, together with any and
  all amendments thereto, in which there are set forth audited financial statements for
  each of the Registrant&#146;s fiscal years ended December&nbsp;31, 2004 and 2005;</DIV></TD>
  </TR>
  
  <TR>
      <TD style="font-size: 6pt">&nbsp;</TD>
  </TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="2%" style="background: transparent">&nbsp;</TD>
      <TD width="2%" nowrap align="left">1.2</TD>
      <TD width="1%">&nbsp;</TD>
      <TD><DIV style="text-align: justify">The description of the Registrant&#146;s outstanding Common Stock contained in the
  Registrant&#146;s Registration Statement No.&nbsp;000-51863 on Form 8-A filed with the SEC on
  March&nbsp;28, 2006, pursuant to Section&nbsp;12 of the Securities Act of 1934, as amended (the
  &#147;1934 Act&#148;), including any amendment or report filed for the purpose of updating such
  description; and</DIV></TD>
  </TR>
  
  </TABLE>
  </DIV>
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All reports and definitive proxy or information statements filed pursuant to Section&nbsp;13(a),
  13(c), 14 or 15(d) of the 1934 Act after the date of this Registration Statement and prior to the
  filing of a post-effective amendment which indicates that all securities offered hereby have been
  sold or which deregisters all securities then remaining unsold shall be deemed to be incorporated
  by reference into this Registration Statement and to be a part hereof from the date of filing of
  such documents. Any statement contained in a document incorporated or deemed to be incorporated by
  reference herein shall be deemed to be modified or superseded for purposes of this Registration
  Statement to the extent that a statement contained herein, or in any other subsequently filed
  document that also is or is deemed to be incorporated by reference herein, modifies or supersedes
  such statement. Any such statement so modified or superseded shall not be deemed, except as so
  modified or superseded, to constitute a part of this Registration Statement.
  </DIV>
  <!-- link2 "Item&nbsp;4. <u>Description of Securities</u>" -->
  <DIV align="left"><A NAME="002"></A></DIV>
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;4. <u>Description of Securities</u>
  </DIV>
  
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.
  </DIV>
  <!-- link2 "Item&nbsp;5. <u>Interests of Named Experts and Counsel</u>" -->
  <DIV align="left"><A NAME="003"></A></DIV>
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;5. <u>Interests of Named Experts and Counsel</u>
  </DIV>
  
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.
  </DIV>
  <!-- link2 "Item&nbsp;6. <u>Indemnification of Directors and Officers</u>" -->
  <DIV align="left"><A NAME="004"></A></DIV>
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;6. <u>Indemnification of Directors and Officers</u>
  </DIV>
  
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145 of the Delaware General Corporation Law authorizes a court to award or a corporation&#146;s
  Board of Directors to grant indemnification to directors and officers in terms sufficiently broad
  to permit such indemnification under certain circumstances for liabilities (including reimbursement
  for expenses incurred) arising under the 1933 Act. The Registrant&#146;s Bylaws provide for mandatory
  indemnification of its directors and officers to the maximum extent permitted by the Delaware
  General Corporation Law. The Registrant&#146;s Certificate of Incorporation provides that, pursuant to
  Delaware law, its directors shall not be liable for monetary damages for breach of their fiduciary
  duty as directors to the Registrant and its stockholders. This provision in the Certificate of
  Incorporation does not eliminate the fiduciary duty of the directors, and, in appropriate
  circumstances, equitable remedies such as injunctive or other forms of non-monetary relief will
  remain available under Delaware law. In addition, each director will continue to be subject to
  liability for breach of the director&#146;s duty of loyalty to the Registrant for acts or omissions not
  in good faith or involving intentional misconduct, for knowing violations of law, for actions
  leading to improper personal benefit to the director and for payment of dividends or approval of
  stock repurchases or redemptions that are unlawful under Delaware law. The provision also does not
  affect a director&#146;s responsibilities under any other law, such as the federal securities laws or
  state or federal environmental laws. The Registrant has entered into Indemnification Agreements
  with its directors and officers. The Indemnification
  </DIV>
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->II-1<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 6pt">Agreements provide the Registrant&#146;s directors and officers with further indemnification to the
  maximum extent permitted by the Delaware General Corporation Law.
  </DIV>
  <!-- link2 "Item&nbsp;7. <u>Exemption from Registration Claimed</u>" -->
  <DIV align="left"><A NAME="005"></A></DIV>
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;7. <u>Exemption from Registration Claimed</u>
  </DIV>
  
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.
  </DIV>
  <!-- link2 "Item&nbsp;8. <u>Exhibits</u>" -->
  <DIV align="left"><A NAME="006"></A></DIV>
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;8. <u>Exhibits</u>
  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="9%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="88%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit</TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Reference is made to Vanda Pharmaceuticals Inc.&#146;s Registration Statement No.
  000-51863 on Form&nbsp;8-A, together with all amendments and exhibits thereto, which is
  incorporated herein by reference under Item&nbsp;3(b) of this Registration Statement.</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Opinion and consent of Gunderson Dettmer Stough Villeneuve Franklin &#038; Hachigian L.L.P.</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of Gunderson Dettmer Stough Villeneuve Franklin &#038; Hachigian, L.L.P. (included
  in Exhibit&nbsp;5.1)</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of Pricewaterhouse Coopers LLP, Independent Registered Public Accounting Firm</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  <!-- link2 "Item&nbsp;9. <U>Undertakings</U>" -->
  <DIV align="left"><A NAME="007"></A></DIV>
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;9. <U>Undertakings</U>
  </DIV>
  
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The undersigned Registrant hereby undertakes: (1)&nbsp;to file, during any period in
  which offers or sales are being made, a post-effective amendment to this Registration Statement (i)
  to include any prospectus required by Section&nbsp;10(a)(3) of the 1933 Act, (ii)&nbsp;to reflect in the
  prospectus any facts or events arising after the effective date of this Registration Statement (or
  the most recent post-effective amendment thereof) which, individually or in the aggregate,
  represent a fundamental change in the information set forth in this Registration Statement and
  (iii)&nbsp;to include any material information with respect to the plan of distribution not previously
  disclosed in this Registration Statement or any material change to such information in this
  Registration Statement; <U>provided</U>, however, that clauses (1)(i) and (1)(ii) shall not apply
  if the information required to be included in a post-effective amendment by those paragraphs is
  contained in periodic reports filed with or furnished to the SEC by the Registrant pursuant to
  Section&nbsp;13 or Section 15(d) of the 1934 Act that are incorporated by reference in this Registration
  Statement; (2)&nbsp;that for the purpose of determining any liability under the 1933 Act each such
  post-effective amendment shall be deemed to be a new registration statement relating to the
  securities offered therein and the offering of such securities at that time shall be deemed to be
  the initial bona fide offering thereof and (3)&nbsp;to remove from registration by means of a
  post-effective amendment any of the securities being registered which remain unsold at the
  termination of the Registrant&#146;s Second Amended and Restated Management Equity Plan.
  </DIV>
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The undersigned Registrant hereby undertakes that, for purposes of determining
  any liability under the 1933 Act, each filing of the Registrant&#146;s annual report pursuant to Section
  13(a) or Section 15(d) of the 1934 Act that is incorporated by reference in this Registration
  Statement shall be deemed to be a new registration statement relating to the securities offered
  therein, and the offering of such securities at that time shall be deemed to be the initial bona
  fide offering thereof.
  </DIV>
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insofar as indemnification for liabilities arising under the 1933 Act may be
  permitted to directors, officers or controlling persons of the Registrant pursuant to the
  indemnification provisions summarized in Item&nbsp;6 or otherwise, the Registrant has been advised that,
  in the opinion of the SEC, such indemnification is against public policy as expressed in the 1933
  Act, and is, therefore, unenforceable. In the event that a claim for indemnification against such
  liabilities (other than the payment by the Registrant of expenses incurred or paid by a director,
  officer or controlling person of the Registrant in the successful defense of any action, suit or
  proceeding) is asserted by such director, officer or controlling person in connection with the
  securities being registered, the Registrant will, unless in the opinion of its counsel the matter
  has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
  question whether such indemnification by it is against public policy as expressed in the 1933 Act
  and will be governed by the final adjudication of such issue.
  </DIV>
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->II-2<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  <!-- link1 "SIGNATURES" -->
  <DIV align="left"><A NAME="008"></A></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
  </DIV>
  
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant
  certifies that it has reasonable grounds to believe that it meets all of the requirements for
  filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by
  the undersigned, thereunto duly authorized, in the City of Rockville, State of Maryland on this 6th
  day of October, 2006.
  </DIV>
  
  <TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
  <TR>
      <TD width="48%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="35%">&nbsp;</TD>
      <TD width="15%">&nbsp;</TD>
  </TR>
  <TR>
      <TD valign="top" align="left">&nbsp;</TD>
      <TD colspan="3" align="left"><B>VANDA PHARMACEUTICALS INC.</B><BR>
  &nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR><TR>
      <TD align="left">&nbsp;</TD>
      <TD valign="top">By:&nbsp;&nbsp;</TD>
      <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/Mihael H. Polymeropoulos, M.D.
  &nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR><TR>
      <TD align="left">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="2" align="left">Mihael H. Polymeropoulos, M.D.&nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR><TR>
      <TD align="left">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="2" align="left">Chief Executive Officer&nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR>
  <TR>
      <TD colspan="5">&nbsp;</TD>
  </TR>
  </TABLE>
  
  <DIV style="margin-top: 6pt">
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  
  
  
  </TABLE>
  </DIV>
  <P align="center" style="font-size: 10pt"><!-- Folio -->II-3<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  <DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  
  
  </TABLE>
  </DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>POWER OF ATTORNEY</B></U>
  </DIV>
  
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned officers and directors of Vanda Pharmaceuticals Inc. hereby constitute Mihael
  H. Polymeropoulos, M.D., and Steven A. Shallcross, and each of them singly, with full power of
  substitution, our true and lawful attorneys-in-fact and agents to take any actions to enable Vanda
  Pharmaceuticals Inc. to comply with the Securities Act, and any rules, regulations and requirements
  of the Securities and Exchange Commission, in connection with this registration statement,
  including the power and authority to sign for us in our names in the capacities indicated below any
  and all amendments (including post-effective amendments) to this registration statement and any
  other registration statement filed pursuant to the provisions of Rule&nbsp;462 under the Securities Act
  and the power to file the same, with all exhibits thereto, and all other documents in connection
  therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact
  and agents full power and authority to perform each and every act in person, hereby ratifying and
  confirming all that said attorneys-in-fact and agents or either of them or their or his substitute
  or substitutes may lawfully do or cause to be done by virtue hereof.
  </DIV>
  
  <DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this registration statement has
  been signed below by the following persons in the capacities and on the dates indicated.
  </DIV>
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="31%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="37%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="35%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Name</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top">/s/ Mihael H. Polymeropoulos, M.D.<BR>
  <DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Mihael H. Polymeropoulos, M.D.
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">President and Chief Executive Officer<BR>
  and Director (principal executive officer)
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">October&nbsp;18, 2006</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top">/s/ Steven A. Shallcross<BR>
  <DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Steven A. Shallcross
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Senior Vice President, Chief Financial Officer<BR>
  and Treasurer (principal financial and<BR>
  accounting officer)
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">October&nbsp;18, 2006</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top">/s/ Argeris N. Karabelas, Ph.D.
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">October&nbsp;18, 2006</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Argeris N. Karabelas, Ph.D.
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top">/s/ Brian K. Halak, Ph.D.
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">October&nbsp;18, 2006</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Brian K. Halak, Ph.D.
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top">/s/ H. Thomas Watkins
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">October&nbsp;18, 2006</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  H. Thomas Watkins
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top">/s/ David Ramsay
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">October&nbsp;18, 2006</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  David Ramsay
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top">/s/ James B. Tananbaum, M.D.
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">October&nbsp;18, 2006</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  James B. Tananbaum, M.D.
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top">/s/ Richard W. Dugan
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">October&nbsp;18, 2006</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Richard W. Dugan
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->II-4<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  
  <!-- link1 "EXHIBIT INDEX" -->
  <DIV align="left"><A NAME="009"></A></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="13%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="82%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit</TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Reference is made to Vanda Pharmaceuticals Inc.&#146;s
  Registration Statement No.&nbsp;000-51863 on Form&nbsp;8-A, together
  with all amendments and exhibits thereto, which is
  incorporated herein by reference under Item&nbsp;3(b) of this
  Registration Statement.</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Opinion and consent of Gunderson Dettmer Stough Villeneuve
  Franklin &#038; Hachigian, L.L.P.</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of Gunderson Dettmer Stough Villeneuve Franklin &#038;
  Hachigian, L.L.P. (included in Exhibit&nbsp;5.1)</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of Pricewaterhouse Coopers LLP, Independent
  Registered Public Accounting Firm</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
  </DIV>
  
  </BODY>
  </HTML>
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text: sv8
  Table of Contents
  As filed with the Securities and Exchange Commission on October 18, 2006
  Registration No. 333-
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C. 20549
  FORM S-8
  REGISTRATION STATEMENT
  UNDER
  The Securities Act of 1933
  VANDA PHARMACEUTICALS INC.
  (Exact name of registrant as specified in its charter)
  Delaware
  (State or other jurisdiction of
  incorporation or organization)
  03-0491827
  (IRS Employer
  Identification No.)
  9605 Medical Center Drive
  SUITE 300
  ROCKVILLE, MARYLAND 20850
  (Address of principal executive offices) (Zip Code)
  VANDA PHARMACEUTICALS INC. SECOND AMENDED AND RESTATED MANAGEMENT EQUITY PLAN
  (Full title of the Plan)
  Mihael H. Polymeropoulos, M.D.
  Chief Executive Officer
  Vanda Pharmaceuticals Inc.
  9605 Medical Center Drive
  SUITE 300
  ROCKVILLE, MARYLAND 20850
  (Name and address of agent for service)
  (240) 599-4500
  (Name, address and telephone number, including area code, of agent for service)
  CALCULATION OF REGISTRATION FEE
  Proposed Maximum
  Proposed Maximum
  Amount to be
  Offering Price per
  Aggregate Offering
  Amount of
  Title of Securities to be Registered
  Registered(1)
  Share(2)
  Price(2)
  Registration Fee
  Stock Options and Common Stock,
  $0.001 par value
  1,569,667 shares
  $
  10.44
  $
  16,387,323.48
  $
  1,753.44
  (1)
  This Registration Statement shall also cover any additional shares of Common Stock
  which become issuable under the Second Amended and Restated Management Equity Plan by
  reason of any stock dividend, stock split, recapitalization or other similar transaction
  effected without the receipt of consideration which results in an increase in the number of
  the outstanding shares of Common Stock of Vanda Pharmaceuticals Inc.
  (2)
  Estimated solely for the purpose of calculating the amount of the registration fee
  pursuant to Rule 457(c) and (h)(1) under the Securities Act. The offering price per share
  and aggregate offering price for the unissued stock options and shares of common stock are
  based upon the average of the high and low prices of the Registrant's common stock as
  reported on the Nasdaq National Market System on October 16, 2006.
  TABLE OF CONTENTS
  PART II
  Item 3.
  Incorporation of Documents by Reference
  Item 4.
  Description of Securities
  Item 5.
  Interests of Named Experts and Counsel
  Item 6.
  Indemnification of Directors and Officers
  Item 7.
  Exemption from Registration Claimed
  Item 8.
  Exhibits
  Item 9.
  Undertakings
  SIGNATURES
  EXHIBIT INDEX
  EX-5.1 Opinion and Consent of Gunderson Dettmer
  EX-23.2 Consent of Pricewaterhouse Coopers LLP
  Table of Contents
  PART II
  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
  Item 3.
  Incorporation of Documents by Reference
  Vanda Pharmaceuticals Inc. (the "Registrant") hereby incorporates by reference into this
  Registration Statement the following documents previously filed with the Securities and Exchange
  Commission (the "SEC"):
  1.1
  The Registrant's prospectus filed with the SEC pursuant to Rule 424(b) under
  the Securities Act of 1933, as amended (the "1933 Act"), in connection with the
  Registrant's Registration Statement No. 333-130759 on Form S-1, together with any and
  all amendments thereto, in which there are set forth audited financial statements for
  each of the Registrant's fiscal years ended December 31, 2004 and 2005;
  1.2
  The description of the Registrant's outstanding Common Stock contained in the
  Registrant's Registration Statement No. 000-51863 on Form 8-A filed with the SEC on
  March 28, 2006, pursuant to Section 12 of the Securities Act of 1934, as amended (the
  "1934 Act"), including any amendment or report filed for the purpose of updating such
  description; and
  All reports and definitive proxy or information statements filed pursuant to Section 13(a),
  13(c), 14 or 15(d) of the 1934 Act after the date of this Registration Statement and prior to the
  filing of a post-effective amendment which indicates that all securities offered hereby have been
  sold or which deregisters all securities then remaining unsold shall be deemed to be incorporated
  by reference into this Registration Statement and to be a part hereof from the date of filing of
  such documents. Any statement contained in a document incorporated or deemed to be incorporated by
  reference herein shall be deemed to be modified or superseded for purposes of this Registration
  Statement to the extent that a statement contained herein, or in any other subsequently filed
  document that also is or is deemed to be incorporated by reference herein, modifies or supersedes
  such statement. Any such statement so modified or superseded shall not be deemed, except as so
  modified or superseded, to constitute a part of this Registration Statement.
  Item 4.
  Description of Securities
  Not Applicable.
  Item 5.
  Interests of Named Experts and Counsel
  Not Applicable.
  Item 6.
  Indemnification of Directors and Officers
  Section 145 of the Delaware General Corporation Law authorizes a court to award or a corporation's
  Board of Directors to grant indemnification to directors and officers in terms sufficiently broad
  to permit such indemnification under certain circumstances for liabilities (including reimbursement
  for expenses incurred) arising under the 1933 Act. The Registrant's Bylaws provide for mandatory
  indemnification of its directors and officers to the maximum extent permitted by the Delaware
  General Corporation Law. The Registrant's Certificate of Incorporation provides that, pursuant to
  Delaware law, its directors shall not be liable for monetary damages for breach of their fiduciary
  duty as directors to the Registrant and its stockholders. This provision in the Certificate of
  Incorporation does not eliminate the fiduciary duty of the directors, and, in appropriate
  circumstances, equitable remedies such as injunctive or other forms of non-monetary relief will
  remain available under Delaware law. In addition, each director will continue to be subject to
  liability for breach of the director's duty of loyalty to the Registrant for acts or omissions not
  in good faith or involving intentional misconduct, for knowing violations of law, for actions
  leading to improper personal benefit to the director and for payment of dividends or approval of
  stock repurchases or redemptions that are unlawful under Delaware law. The provision also does not
  affect a director's responsibilities under any other law, such as the federal securities laws or
  state or federal environmental laws. The Registrant has entered into Indemnification Agreements
  with its directors and officers. The Indemnification
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  Agreements provide the Registrant's directors and officers with further indemnification to the
  maximum extent permitted by the Delaware General Corporation Law.
  Item 7.
  Exemption from Registration Claimed
  Not Applicable.
  Item 8.
  Exhibits
  Exhibit Number
  Exhibit
  4.1
  Reference is made to Vanda Pharmaceuticals Inc.'s Registration Statement No.
  000-51863 on Form 8-A, together with all amendments and exhibits thereto, which is
  incorporated herein by reference under Item 3(b) of this Registration Statement.
  5.1
  Opinion and consent of Gunderson Dettmer Stough Villeneuve Franklin & Hachigian L.L.P.
  23.1
  Consent of Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, L.L.P. (included
  in Exhibit 5.1)
  23.2
  Consent of Pricewaterhouse Coopers LLP, Independent Registered Public Accounting Firm
  Item 9.
  Undertakings
  (a)      The undersigned Registrant hereby undertakes: (1) to file, during any period in
  which offers or sales are being made, a post-effective amendment to this Registration Statement (i)
  to include any prospectus required by Section 10(a)(3) of the 1933 Act, (ii) to reflect in the
  prospectus any facts or events arising after the effective date of this Registration Statement (or
  the most recent post-effective amendment thereof) which, individually or in the aggregate,
  represent a fundamental change in the information set forth in this Registration Statement and
  (iii) to include any material information with respect to the plan of distribution not previously
  disclosed in this Registration Statement or any material change to such information in this
  Registration Statement;
  provided
  , however, that clauses (1)(i) and (1)(ii) shall not apply
  if the information required to be included in a post-effective amendment by those paragraphs is
  contained in periodic reports filed with or furnished to the SEC by the Registrant pursuant to
  Section 13 or Section 15(d) of the 1934 Act that are incorporated by reference in this Registration
  Statement; (2) that for the purpose of determining any liability under the 1933 Act each such
  post-effective amendment shall be deemed to be a new registration statement relating to the
  securities offered therein and the offering of such securities at that time shall be deemed to be
  the initial bona fide offering thereof and (3) to remove from registration by means of a
  post-effective amendment any of the securities being registered which remain unsold at the
  termination of the Registrant's Second Amended and Restated Management Equity Plan.
  (b)      The undersigned Registrant hereby undertakes that, for purposes of determining
  any liability under the 1933 Act, each filing of the Registrant's annual report pursuant to Section
  13(a) or Section 15(d) of the 1934 Act that is incorporated by reference in this Registration
  Statement shall be deemed to be a new registration statement relating to the securities offered
  therein, and the offering of such securities at that time shall be deemed to be the initial bona
  fide offering thereof.
  (c)      Insofar as indemnification for liabilities arising under the 1933 Act may be
  permitted to directors, officers or controlling persons of the Registrant pursuant to the
  indemnification provisions summarized in Item 6 or otherwise, the Registrant has been advised that,
  in the opinion of the SEC, such indemnification is against public policy as expressed in the 1933
  Act, and is, therefore, unenforceable. In the event that a claim for indemnification against such
  liabilities (other than the payment by the Registrant of expenses incurred or paid by a director,
  officer or controlling person of the Registrant in the successful defense of any action, suit or
  proceeding) is asserted by such director, officer or controlling person in connection with the
  securities being registered, the Registrant will, unless in the opinion of its counsel the matter
  has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
  question whether such indemnification by it is against public policy as expressed in the 1933 Act
  and will be governed by the final adjudication of such issue.
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  SIGNATURES
  Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant
  certifies that it has reasonable grounds to believe that it meets all of the requirements for
  filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by
  the undersigned, thereunto duly authorized, in the City of Rockville, State of Maryland on this 6th
  day of October, 2006.
  VANDA PHARMACEUTICALS INC.
  By:
  /s/Mihael H. Polymeropoulos, M.D.
  Mihael H. Polymeropoulos, M.D.
  Chief Executive Officer
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  POWER OF ATTORNEY
  The undersigned officers and directors of Vanda Pharmaceuticals Inc. hereby constitute Mihael
  H. Polymeropoulos, M.D., and Steven A. Shallcross, and each of them singly, with full power of
  substitution, our true and lawful attorneys-in-fact and agents to take any actions to enable Vanda
  Pharmaceuticals Inc. to comply with the Securities Act, and any rules, regulations and requirements
  of the Securities and Exchange Commission, in connection with this registration statement,
  including the power and authority to sign for us in our names in the capacities indicated below any
  and all amendments (including post-effective amendments) to this registration statement and any
  other registration statement filed pursuant to the provisions of Rule 462 under the Securities Act
  and the power to file the same, with all exhibits thereto, and all other documents in connection
  therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact
  and agents full power and authority to perform each and every act in person, hereby ratifying and
  confirming all that said attorneys-in-fact and agents or either of them or their or his substitute
  or substitutes may lawfully do or cause to be done by virtue hereof.
  Pursuant to the requirements of the Securities Act of 1933, this registration statement has
  been signed below by the following persons in the capacities and on the dates indicated.
  Name
  Title
  Date
  /s/ Mihael H. Polymeropoulos, M.D.
  Mihael H. Polymeropoulos, M.D.
  President and Chief Executive Officer
  and Director (principal executive officer)
  October 18, 2006
  /s/ Steven A. Shallcross
  Steven A. Shallcross
  Senior Vice President, Chief Financial Officer
  and Treasurer (principal financial and
  accounting officer)
  October 18, 2006
  /s/ Argeris N. Karabelas, Ph.D.
  Director
  October 18, 2006
  Argeris N. Karabelas, Ph.D.
  /s/ Brian K. Halak, Ph.D.
  Director
  October 18, 2006
  Brian K. Halak, Ph.D.
  /s/ H. Thomas Watkins
  Director
  October 18, 2006
  H. Thomas Watkins
  /s/ David Ramsay
  Director
  October 18, 2006
  David Ramsay
  /s/ James B. Tananbaum, M.D.
  Director
  October 18, 2006
  James B. Tananbaum, M.D.
  /s/ Richard W. Dugan
  Director
  October 18, 2006
  Richard W. Dugan
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  EXHIBIT INDEX
  Exhibit Number
  Exhibit
  4.1
  Reference is made to Vanda Pharmaceuticals Inc.'s
  Registration Statement No. 000-51863 on Form 8-A, together
  with all amendments and exhibits thereto, which is
  incorporated herein by reference under Item 3(b) of this
  Registration Statement.
  5.1
  Opinion and consent of Gunderson Dettmer Stough Villeneuve
  Franklin & Hachigian, L.L.P.
  23.1
  Consent of Gunderson Dettmer Stough Villeneuve Franklin &
  Hachigian, L.L.P. (included in Exhibit 5.1)
  23.2
  Consent of Pricewaterhouse Coopers LLP, Independent
  Registered Public Accounting Firm