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Orexigen® Therapeutics Reports Second Quarter Ended June 30, 2011 Financial Results
Date:8/8/2011

ebsite (www.sec.gov) and on our website (www.orexigen.com) under the heading "Investor Relations." All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995. Orexigen Therapeutics, Inc.Statements of Operations(In thousands, except per share amounts)(Unaudited)Three Months Ended Six Months Ended June 30, June 30, 2011201020112010Revenues:Collaborative agreement $

857$

-$

1,714$

-License revenue 02297144Total revenues 857222,68544Operating expenses:Research and development 3,1315,5869,69813,567General and administrative 5,2046,18211,96312,203Total operating expenses 8,33511,76821,66125,770Loss from operations (7,478)(11,746)(18,976)(25,726)Other income (expense):Interest income 11342680Interest expense (101)(191)(221)(336)Total other income (expense) (90)(157)(195)(256)Net loss $

(7,568)$

(11,903)$

(19,171)$

(25,982)Net loss per share - basic and diluted $

(0.16)$

(0.25)$

(0.40)$

(0.55)Shares used in computing net loss per share – basic and diluted 48,08247,22547,97547,220Orexigen Therapeutics, Inc.Balance Sheets(In thousands, except share and par value amounts)June 30,December 31,20112010(Unaudited)AssetsCurrent assets:Cash and cash equivalents

$
36,400$
24,926Investment securities, available-for-sale

33,29867,440Prepaid expenses and other current assets

1,3092,502Total current assets

71,00794,868Property and equipment, net

654894Restricted cash

612881Other assets

11203Total assets

$
72,284$
96,846Liabilities and stockholders' equity Current liabilities:Accounts payable and accrued expenses

$
5,600$
,355Deferred revenue, current portion

3,4293,517Long-te
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SOURCE Orexigen Therapeutics, Inc.
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