Vanda Pharmaceuticals up 16% after disclosing receipt of revised Future Pak bid

Vanda Pharmaceuticals shares are up 75c, or 16%, to $5.59 after the company confirmed that it has received a revised unsolicited proposal from Future Pak to acquire the company. The revised proposal consists of a $7.25 to $7.75 per share in cash plus certain Contingent Value Rights, or “CVRs.”