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Orexigen® Therapeutics Reports First Quarter Ended March 31, 2011 Financial Results

ce Sheets(In thousands, except share and par value amounts)March 31,December 31,20112010(Unaudited)AssetsCurrent assets:Cash and cash equivalents

24,926Investment securities, available-for-sale

36,94667,440Prepaid expenses and other current assets

1,0562,502Total current assets

77,63694,868Property and equipment, net

774894Restricted cash

881881Other assets

107203Total assets

96,846Liabilities and stockholders' equity Current liabilities:Accounts payable and accrued expenses

,355Deferred revenue, current portion

3,4293,517Long-term debt, current portion

1,0672,416Total current liabilities

9,54316,288Deferred revenue, less current portion

44,57146,311Other long-term liabilities

428459Commitments and contingenciesStockholders’ equity:Preferred stock, $.001 par value, 10,000,000 shares authorized at March 31, 2011 and December 31, 2010; noshares issued and outstanding at  March 31, 2011 and December 31, 2010--Common stock, $.001 par value, 100,000,000 sharesauthorized at March 31, 2011 and December 31, 2010;48,078,553 and 47,767,313 shares issued and outstanding at March 31, 2011 and December 31, 2010, respectively

4848Additional paid-in capital

355,056352,401Accumulated other comprehensive income (loss)

7(9)Accumulated deficit

(330,255)(318,652)Total stockholders’ equity

24,85633,788Total liabilities and stockholders’ equity

96,846Orexigen Therapeutics, Inc.Statements of Operations(In thousands, except per share amounts) (Unaudited)Three Months Ended March 31, 20112010Revenues:Collaborative agreement $


-License revenue 97122Total revenues 1,82822Operating expenses:Research and development 6,5677,981General and administrative 6,7596,021Total operating expenses 13,32614,002Loss from operations (11,498)(13,980)Oth

SOURCE Orexigen Therapeutics, Inc.
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