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Orexigen® Therapeutics Reports First Quarter Ended March 31, 2011 Financial Results
Date:5/9/2011

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

$
39,634$
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

$
79,398$
96,846Liabilities and stockholders' equity Current liabilities:Accounts payable and accrued expenses

$
5,047$
,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

$
79,398$
96,846Orexigen Therapeutics, Inc.Statements of Operations(In thousands, except per share amounts) (Unaudited)Three Months Ended March 31, 20112010Revenues:Collaborative agreement $

857$

-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
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SOURCE Orexigen Therapeutics, Inc.
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