Orexigen Therapeutics marks $7.21 million April loss from operations

By Caroline Salls

Pittsburgh, May 30 – Orexigen Therapeutics, Inc. reported a $7.21 million loss from operations for April on $6.24 million in net product sales, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

For the period of March 12 through March 31, Orexigen recorded a $1.33 million loss from operations on $6.03 million in net product sales.

The net loss for April was $9.06 million, narrowing from a $168.98 million net loss for the March period, which included $167.58 million in reorganization expenses.

The company had $21.37 million in cash and cash equivalents as of April 30, up from $14.68 million at the end of March.

Orexigen is a San Diego-based biopharmaceutical company focused on the treatment of obesity. The company filed for bankruptcy on March 12 under Chapter 11 case number 18-10518.

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