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Orexigen Therapeutics posts $708,000 loss from operations for March
By Caroline Salls
Pittsburgh, April 30 – Orexigen Therapeutics, Inc. reported a $708,000 loss from operations for March on zero net product sales, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Delaware.
In comparison, Orexigen posted a $1.45 million loss from operations for February, also on zero net product sales.
The net loss for March was $3.53 million, narrowing from a $3.65 million February net loss.
The company had $25.16 million of cash and cash equivalents as of March 31, down from $25.9 million at the end of February.
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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