Cycle Pharmaceuticals offers $8/share ($488M) to acquire Vanda Pharmaceuticals, despite Vanda's board refusing to engage.

Cycle Pharmaceuticals has reiterated its all-cash offer of $8.00 per share to acquire Vanda Pharmaceuticals, valuing the deal at $488 million, an 80% premium over Vanda's recent share price. Despite Cycle's interest, Vanda's Board has refused to engage, prioritizing its own interests after Vanda's recent FDA drug approval failure. Cycle is urging Vanda shareholders to advocate for the proposal, asserting it provides immediate cash value.