07:30 AM EDT, 04/17/2024 (MT Newswires) -- Vanda Pharmaceuticals ( VNDA ) has received three proposals from Future Pak, wherein the latter will acquire all of Vanda's shares -- the latest offer being at $7.25 to $7.75 per share, Future Pak said Wednesday.

Shares of Vanda rose more than 28% in recent Wednesday premarket activity.

Future Pak said it expressed to Vanda's board willingness to explore various ways to improve its proposal, "whether through structural enhancements, such as contingent value rights, or a potential increase in cash consideration," but the pharmaceutical firm has yet to engage with Future Pak.

Vanda did not immediately respond to a request for comment from MT Newswires.