Orexigen Therapeutics records $81,000 loss from operations for August

By Caroline Salls

Pittsburgh, Oct. 1 – Orexigen Therapeutics, Inc. reported an $81,000 loss from operations for August on zero net product sales, according to its monthly operating report filed Monday with the Securities and Exchange Commission.

In comparison, Orexigen posted a $2.08 million loss from operations for July on $2.89 million in net product sales.

The net loss for August was $60,000, narrowing significantly from a $136.59 million July net loss.

As previously reported, the July net loss included $134.53 million in reorganization expenses.

The company had $37.43 million in cash and cash equivalents as of Aug. 31.

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 District of Delaware under Chapter 11 case number 18-10518.

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