Orexigen Therapeutics records $1.72 million operating loss for June

By Caroline Salls

Pittsburgh, July 30 – Orexigen Therapeutics, Inc. reported a $1.72 million loss from operations for June on $4.82 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 compared to a $3.97 million loss from operations posted for May on $7.9 million in net product sales.

The net loss for June was $5.47 million, narrowing from a $7.77 million May net loss.

The company had $15.62 million in cash and cash equivalents as of June 30, down from $17.11 million at the end of May.

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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