Orexigen Therapeutics marks $3.97 million operating loss for May

By Caroline Salls

Pittsburgh, July 3 – Orexigen Therapeutics, Inc. reported a $3.97 million loss from operations for May on $7.9 million in net product sales, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Those figures showed improvement over the $7.21 million loss from operations posted for April on $6.24 million in net product sales.

The net loss for May was $7.77 million, narrowing from a $9.06 million April net loss.

The company had $17.11 million in cash and cash equivalents as of May 31, down from $21.37 million at the end of April.

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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