Orexigen Therapeutics posts $526,000 September loss from operations

By Caroline Salls

Pittsburgh, Oct. 31 – Orexigen Therapeutics, Inc. reported a $526,000 loss from operations for September on $179,000 in net product sales, according to its monthly operating report filed Wednesday with the Securities and Exchange Commission.

In comparison, Orexigen posted an $81,000 loss from operations for August on zero net product sales.

The net loss for September was $1.88 million, widening from a $60,000 August net loss.

The company had $33.46 million in cash and cash equivalents as of Sept. 30, down from $37.43 million at the end of August.

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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