DALLAS, Sept. 3, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Orexigen Therapeutics Inc. (Nasdaq:OREX). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
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Orexigen Therapeutics Inc. (OREX) is a biopharmaceutical company focused on the development of pharmaceutical product candidates for the treatment of obesity. Its combination product candidates targeted for obesity are Contrave which has completed phase 3 clinical trials, and Empatic, which has completed phase 2 clinical trials. Contrave is a combination of two drugs, bupropion and naltrexone, in a sustained release (SR) formulation. Bupropion is a prescribed antidepressant and smoking cessation medication; naltrexone is a treatment for alcohol and opioid addiction. Empatic is a combination of bupropion SR and zonisamide SR. Zonisamide, in a release formulation, was approved in the United States for the adjunctive treatment of partial seizures, a form of epilepsy. These product candidates regulate appetite and energy expenditure through the central nervous system (CNS).
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In the report, the analyst notes:
"OREX recently announced financial results for the second quarter of 2010. For the quarter ended June 30, 2010, OREX reported a net loss of $11.9 million, or $0.25 per share attributable to common stockholders, as compared to a net loss of $17.8 million, or $0.51 per share attributable to common stockholders, for the second quarter of 2009.
"OREX said it sold the North American marketing rights for its experimental weight loss drug to Japan's Takeda Pharmaceutical Co. Ltd. in a deal that could be worth more than $1 billion, sending its shares up 28%. OREX is one of three U.S. companies that is trying to get approval for the first new diet drug in a decade, along with Arena Pharmaceuticals Inc. and Vivus Inc."
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