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Orexigen Therapeutics posts $79,000 October operating loss, no sales
By Caroline Salls
Pittsburgh, Dec. 3 – Orexigen Therapeutics, Inc. reported a $79,000 loss from operations for October on zero net product sales, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the District of Delaware.
In comparison, Orexigen posted a $526,000 loss from operations for September on $179,000 in net product sales.
The net loss for October was $1.35 million, narrowing from a $1.88 million September net loss.
The company had $21.37 million in cash and cash equivalents as of Oct. 31, down from $33.46 million at the end of September.
Orexigen is a San Diego-based biopharmaceutical company focused on the treatment of obesity. The company filed for bankruptcy on March 12, 2018 under Chapter 11 case number 18-10518.
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