VANDA PHARMACEUTICALS INC

Ticker: VNDA CUSIP: 921659108 Class: Common Stock

Hudson Bay Capital Management LP's Holding History (CIK: 0001393825)

Note: Option positions (PUT/CALL) are excluded.

Q3 2014

Shares 201,909 Value ($000) $2,096 Avg Close $13.11 Range $10.33 - $16.48

Q2 2014

Shares 201,909 Value ($000) $3,267 Avg Close $13.32 Range $9.27 - $17.69

Q1 2014

Shares 206,909 Value ($000) $3,362 Avg Close $14.22 Range $10.00 - $19.25

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	201,909	$2,096	$13.11	$10.33 - $16.48
Q2 2014	201,909	$3,267	$13.32	$9.27 - $17.69
Q1 2014	206,909	$3,362	$14.22	$10.00 - $19.25