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Vanda Pharmaceuticals plans common stock offering

Vanda Pharmaceuticals Inc. said it is looking to raise funds via an underwritten public offering.

Citigroup Inc., Jefferies Group LLC and Stifel Financial Corp. are acting as the joint book-running managers for the offering, which is not yet priced.

The Washington, D.C.-based biopharmaceutical company expects to use the proceeds for commercial and research and development activities, as well as for general corporate purposes.