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Last $7.54 USD
Change Today +0.29 / 4.00%
Volume 9.7M
OREX On Other Exchanges
As of 8:10 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

orexigen therapeutics inc (OREX) Snapshot

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52 Week High
03/3/15 - $9.37
52 Week Low
10/13/14 - $3.11
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orexigen therapeutics inc (OREX) Details

Orexigen Therapeutics, Inc., a biopharmaceutical company, focuses on the development of pharmaceutical products in the United States. The company offers Contrave for the treatment of obesity. It has a collaboration agreement with Takeda Pharmaceutical Company Limited to develop and commercialize Contrave in Canada and Mexico. Orexigen Therapeutics, Inc. was founded in 2002 and is headquartered in La Jolla, California.

47 Employees
Last Reported Date: 02/27/15
Founded in 2002

orexigen therapeutics inc (OREX) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $625.0K
Chief Business & Financial Officer and Execut...
Total Annual Compensation: $370.0K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $370.0K
Executive Vice President of Global Developmen...
Total Annual Compensation: $370.0K
Chief Commercial Officer
Total Annual Compensation: $296.0K
Compensation as of Fiscal Year 2013.

orexigen therapeutics inc (OREX) Key Developments

European Commission Grants Marketing Authorization for Orexigen Therapeutics's Mysimba™

Orexigen Therapeutics, Inc. announced that the European Commission has granted marketing authorization for Mysimba™ (naltrexone HCl /bupropion HCl prolonged release) as an adjunct to a reduced-calorie diet and increased physical activity, for the management of weight in adult patients (=18 years) with an initial Body Mass Index (BMI) of = 30 kg/m2 (obese), or = 27 kg/m2 to < 30 kg/m2 (overweight) in the presence of one or more weight-related co-morbidities (e.g., type 2 diabetes, dyslipidaemia, or controlled hypertension). This authorization applies to all 28 European Union (EU) member states.

Robbins Geller Rudman & Dowd LLP Files Class Action Suit Against Orexigen Therapeutics, Inc

Robbins Geller Rudman & DowdLLP announced that a class action has been commenced in the United States District Court for the Southern District of California on behalf of purchasers of Orexigen Therapeutics, Inc. common stock during the period between March 3, 2015 and March 5, 2015, inclusive (the Class Period). The complaint charges Orexigen and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleged that as part of the FDA post-marketing approval process for Contrave, Orexigen was required to conduct 'a new randomized, double-blind, placebo-controlled study to evaluate the effects of long-term treatment with Contrave on the incidence of [major adverse cardiac events, or ‘MACE’] in overweight and obese subjects with [cardiovascular] disease or multiple [cardiovascular] risk factors,' referred to as the 'LIGHT study'. On March 3, 2015, in connection with reporting to investors the status of certain patent applications the Company had sought for Contrave, Orexigen disclosed detailed interim results of its ongoing LIGHT study, despite, the complaint alleges, having been previously admonished by the FDA for inappropriately releasing interim study data in the past. As a result of the Company’s March 3, 2015 disclosure of the interim study results, the complaint alleges that the price of Orexigen common stock significantly increased in intraday trading on March 3, 2015, on highly unusual trading volume. Then, after the close of trading on March 5, 2015, Forbes published a report entitled 'Top FDA Official Says Orexigen Study Result ‘Unreliable,’ ‘Misleading.’ The complaint alleged that this report contained commentary from an FDA official charged with overseeing the Contrave post-marketing clinical trial program who stated in pertinent part that the interim data from the study was probably 'unreliable,' 'misleading,’ and 'likely false,’ with the Forbes report warning that 'f Orexigen cannot find a way to set things right, it could face fines, civil penalties, or even the withdrawal of Contrave from the market.' On this news, the complaint alleged that the price of Orexigen stock fell substantially when trading resumed on March 6, 2015. Plaintiff seeks to recover damages on behalf of all purchasers of Orexigen common stock during the Class Period.

Orexigen Therapeutics, Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Orexigen Therapeutics, Inc. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the three months ended December 31, 2014, the company reported a net profit of $0.6 million, or $0.00 per basic and diluted share, as compared to a net loss of $21.5 million, or $0.21 per basic and diluted share, for the fourth quarter of 2013. Total revenues were $22,950,000 compared to $857,000 a year ago. Income from operations was $2,385,000 compared to loss from operations of $20,956,000 a year ago. For the year ended December 31, 2014, the company reported a net loss of $37.5 million, or $0.32 per basic and diluted share, as compared to a net loss of $77.7 million, or $0.80 per basic and diluted share, for 2013. Total revenues were $55,521,000 compared to $3,428,000 a year ago. Loss from operations was $30,530,000 compared to $77,198,000 a year ago.


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