Navigation Links
Orexigen(R) Therapeutics Announces Second Quarter 2009 Financial Results
Date:8/6/2009

SAN DIEGO, Aug. 6 /PRNewswire-FirstCall/ -- Orexigen(R) Therapeutics, Inc. (Nasdaq: OREX), a biopharmaceutical company focused on the treatment of obesity, today announced unaudited financial results for the three months ended June 30, 2009.

Three Months Ended June 30, 2009

As of June 30, 2009, Orexigen held $8.6 million in cash and cash equivalents and an additional $37.4 million in investment securities, available-for-sale. In July 2009, Orexigen completed a public offering, the estimated net proceeds of which totaled $81.6 million. The pro forma balance of cash, cash equivalents and investments, available-for-sale, including the estimated net proceeds of the public offering, is $127.6 million.

For the three months ended June 30, 2009, Orexigen reported a net loss of $17.8 million, or $0.51 per share attributable to common stockholders, as compared to a net loss of $23.1 million, or $0.67 per share attributable to common stockholders, for the comparable period in 2008.

Total operating expenses for the three months ended June 30, 2009 were $17.6 million compared to $23.7 million for the comparable period in 2008. The decreased operating expenses were due primarily to a decrease of $6.3 million in research and development expenses in connection with the completion of the Company's Contrave(R) Phase 3 clinical trials, reduced product formulation work and consulting activities, partially offset by an increase in licensing costs, New Drug Application preparation costs, salaries and personnel related costs. In addition, general and administrative expenses increased approximately $200,000 due primarily to an increase in salaries and personnel related costs.

"The recent completion of the COR Phase 3 program was a major milestone for Orexi
'/>"/>

SOURCE Orexigen Therapeutics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

1

GOOD

Page: 1 2 3 4 5 6 7 8 9 10

Related medicine news :

1. Orexigen(R) Therapeutics Prices Public Offering of Common Stock
2. Orexigen(R) Therapeutics Announces Proposed Public Offering of Common Stock
3. Orexigen(R) Therapeutics Announces In-Licensing of Key Patents to Further Strengthen its Intellectual Property Estate for Contrave(R)
4. Orexigen(R) Therapeutics Names Michael Narachi, 24-Year Biopharmaceutical Veteran, New President and Chief Executive Officer
5. Orexigen(R) Therapeutics Names Patrick Mahaffy to Board of Directors
6. Orexigen(R) Therapeutics to Speak at J.P. Morgan Healthcare Conference
7. Orexigen(R) Therapeutics Announces Webcast of Third Quarter Financial Results on November 6, 2008
8. Cell Therapeutics, Inc. (CTI) to Report Second Quarter Financial Results on August 6
9. Quark Pharmaceuticals to Participate in IBCs Oligonucleotide Therapeutics: From Concept to Implementation Conference
10. United Therapeutics Corporation Reports Second Quarter 2009 Financial Results
11. Cell Therapeutics Initiates Process to Obtain Marketing Approval for Pixantrone in Europe
Post Your Comments:
*Name:
*Comment:
*Email:
Breaking Medicine Technology:Genomic Health Announces Publication of Study of Oncotype DX(R) in Node-Positive Breast Cancer That Identifies Patients Who Do Not Appear to Benefit From Chemotherapy 2Genomic Health Announces Publication of Study of Oncotype DX(R) in Node-Positive Breast Cancer That Identifies Patients Who Do Not Appear to Benefit From Chemotherapy 3Genomic Health Announces Publication of Study of Oncotype DX(R) in Node-Positive Breast Cancer That Identifies Patients Who Do Not Appear to Benefit From Chemotherapy 4Genomic Health Announces Publication of Study of Oncotype DX(R) in Node-Positive Breast Cancer That Identifies Patients Who Do Not Appear to Benefit From Chemotherapy 5Onyx Pharmaceuticals to Webcast Analyst Briefing on Development Program 2Negative Pressure Wound Devices Draw FDA Notice, Advice 2UBC researchers find first ever wanderlust gene in tiny bony fish 9474 1Avipaxin Is First Entrant in Medical Arsenal for Neuro Endocrine Immune Connection 28C 29 Product and Testing Protocols 53679 1Avipaxin Is First Entrant in Medical Arsenal for Neuro Endocrine Immune Connection 28C 29 Product and Testing Protocols 53679 2Premier of Split Estate at DocuWeeks 2009 to Call National Attention to Urban Drilling in New York and Los Angeles 53675 1Premier of Split Estate at DocuWeeks 2009 to Call National Attention to Urban Drilling in New York and Los Angeles 53675 2Premier of Split Estate at DocuWeeks 2009 to Call National Attention to Urban Drilling in New York and Los Angeles 53675 3