DALLAS, June 2, 2011 (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.
The full report is available at:
Orexigen Therapeutics Inc. (OREX) is a biopharmaceutical company focused on the treatment of obesity. The Company's lead product, Contrave, has completed Phase III clinical trials and has received a Complete Response Letter from the FDA for its New Drug Application. The Company is in the process of determining the next steps for Contrave. Its second product, Empatic, has completed Phase II clinical development. OREX's lead product candidates reflect its growing understanding of how the central nervous system (CNS) regulates appetite and metabolism as well as the mechanisms that limit weight loss over time. Each product candidate is designed to act on a specific group of neurons in the CNS with the goal of achieving appetite suppression and sustained weight loss, through combination therapeutic approaches.
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In the report, the analyst notes:
"OREX made over 18% gains in Wednesday's trading after the obesity drug developer said it will provide a regulatory update on its highly awaited Contrave treatment this Friday. OREX added $0.51 to close yesterday's session at $3.34. About 9.19 million shares have traded hands during the session, over 15 times the 10-day average volume."
"OREX has been moving within a range of $2.47 – $11.15 over the past 52-weeks. The stock is currently trading above its 50-day moving average of $2.97 and below its 200-day moving average of $4.88. Market capitalization currently stands at $160.63 million and OREX has 48.08 million outstanding shares."
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