Orexigen® Therapeutics Announces Proposed Public Offering of Common Stock

  Orexigen® Therapeutics Announces Proposed Public Offering of Common Stock

PR Newswire

SAN DIEGO, Oct. 24, 2012

SAN DIEGO, Oct. 24, 2012 /PRNewswire/ --Orexigen Therapeutics, Inc. (Nasdaq:
OREX) today announced that it intends to offer shares of its common stock in
an underwritten public offering. In connection with this offering, Orexigen
expects to grant to the underwriters a 30-day option to purchase additional
shares of common stock. All of the shares are being offered by Orexigen.
Credit Suisse Securities (USA) LLC, BofA Merrill Lynch and Leerink Swann LLC
are acting as joint book-running managers for the offering. The offering is
subject to market conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or terms of the

The securities described above are being offered by Orexigen pursuant to a
registration statement previously filed and declared effective by the
Securities and Exchange Commission. A prospectus supplement relating to the
offering will be filed with the Securities and Exchange Commission. This press
release shall not constitute an offer to sell or the solicitation of an offer
to buy, nor shall there be any sale of these securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction. When available, copies of the prospectus supplement and the
accompanying prospectus relating to this offering may be obtained from Credit
Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison
Avenue, New York, NY 10010 or by calling toll-free (800) 221-1037 or emailing
a request to newyork.prospectus@credit-suisse.com, from BofA Merrill Lynch,
Attn: Prospectus Department, 222 Broadway, New York, NY 10038 or by emailing a
request to dg.prospectus_requests@baml.com or from Leerink Swann LLC ,
Attention: Syndicate Department, One Federal Street, 37th Fl., Boston, MA
02110 or by calling Leerink Swann LLC, toll free, at 1-800-808-7525, Ext.

About Orexigen® Therapeutics

Orexigen Therapeutics, Inc. is a biopharmaceutical company focused on the
treatment of obesity. The Company's lead product candidate is Contrave®, which
has completed Phase III clinical trials and for which a New Drug Application
has been submitted and reviewed by the FDA. The Company has also reached
agreement with the FDA on a Special Protocol Assessment (SPA) for the Light
Study, the Contrave cardiovascular outcomes trial. The Company's other
product candidate, Empatic™, has completed Phase II clinical trials. Further
information about the Company can be found at www.orexigen.com.

Orexigen Contact:                                Media Contacts:
McDavid Stilwell                                 Denise Powell
VP, Corporate Communications and Business        WCG
(858) 875-8629                                   (510) 703-9491

SOURCE Orexigen Therapeutics, Inc.

Website: http://www.orexigen.com
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