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Orexigen® Therapeutics, Inc. Announces Upcoming Departure of Chief Financial Officer
Date:2/17/2011

SAN DIEGO, Feb. 17, 2011 /PRNewswire/ -- Orexigen® Therapeutics, Inc. (Nasdaq: OREX) announced today the upcoming resignation of Graham Cooper, senior vice president, Finance, CFO and treasurer. Mr. Cooper, who has been with Orexigen for over four years, has decided to leave the Company for personal reasons.  He has been commuting from the San Francisco Bay Area since accepting the CFO role in 2006.  Mr. Cooper will remain in his current role at Orexigen until the reporting of the Company's year-end results and the filing of its Annual Report on Form 10-K with the SEC for the year ended December 31, 2010.

The Company intends to name Jay Hagan, senior vice president, Corporate Development and Strategy, as acting-CFO and transition the financial operation responsibilities to him.  Jay joined the company in May 2009 after 10 years at Amgen.  He was instrumental in helping Orexigen secure the partnership with Takeda Pharmaceuticals North America for Contrave® (naltrexone Sustained Release (SR)/bupropion SR).  Since joining the Company to lead Corporate Development in 2009, Mr. Hagan has taken on increased responsibility, leading the Corporate Communications and Technical Operations functions at Orexigen.

"We are very grateful to Graham for his dedication and many contributions to Orexigen, and we wish him great success in the future," said Michael Narachi, president and CEO of Orexigen. "Graham has built a strong finance team at Orexigen, which will enable a smooth transition."

Steve Moglia, senior director of Financial Reporting and controller, and Judy Fox, assistant controller will continue to play key leadership roles in Orexigen's Finance department. Mr. Moglia joined Orexigen in 2008 and is responsible for managing all financial reporting, Sarbanes-Oxley compliance, stock administration and tax compliance activities. Prior t
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SOURCE Orexigen Therapeutics, Inc.
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