Vanda Rejects Cycle's Second Bid Amid FDA Setbacks and Strategic Conflicts

Vanda Pharmaceuticals has firmly rejected Cycle Pharmaceuticals' second takeover bid, which was valued at $8.00 per share, deeming it an undervaluation of the company[1][2]. The proposal came in the wake of the FDA's denial of approval for Vanda's drug tradipitant aimed at treating gastroparesis, which has been met with Vanda's challenge against the regulatory decision[1]. Cycle’s bid, representing an 80% premium over current share prices, was characterized by Vanda as an opportunistic move, especially as the company remains confident in its long-term value and growth potential[2]. Despite this and a previous similar attempt by Cycle, Vanda is focused on advancing its drug approvals and maintaining growth strategies[1].