Orexigen Therapeutics announces Nasdaq decides to delist company stock

By Caroline Salls

Pittsburgh, April 3 – Orexigen Therapeutics, Inc. announced in an 8-K filed Tuesday with the Securities and Exchange Commission that the staff of the Nasdaq Stock Market LLC decided to delist the company’s shares from Nasdaq.

According to the 8-K, trading of Orexigen’s shares will suspend as of the open of business on April 4.

Nasdaq will complete the delisting process after the applicable appeal periods have lapsed.

The company said it did not submit additional materials regarding the potential delisting as a result of its bankruptcy filing by the March 19 deadline set by the exchange.

Orexigen is a San Diego-based biopharmaceutical company focused on the treatment of obesity. The company filed for bankruptcy on March 12 in the U.S. Bankruptcy Court for the Southern District of New York under Chapter 11 case number 18-10518.

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