Orexigen Therapeutics

Last updated
Orexigen Therapeutics, Inc.
Type Public
Founded2002 (2002)
FounderEckard Weber
Headquarters La Jolla, California, U.S.
Website www.orexigen.com

Orexigen Therapeutics is a public American pharmaceutical company focused on development of treatments for obesity. [1] The company is based in La Jolla, California and was established by Eckard Weber in 2002. [1] As a public company, Orexigen is traded on the NASDAQ exchange under the stock symbol OREX. [1]

The company has a single product, Contrave, approved for use in the United States in 2014. [2] [3] Contrave was designed not only to curb hunger but also reduce cravings. [3] Observation of the market performance of Qsymia and Belviq suggest overall low demand for pharmaceutical obesity therapies, calling into question earnings potential for Orexigen's offering. [2] [ unreliable source? ]

Orexigen declared bankruptcy in 2018 and was sold to Nalpropion. [4] [5]

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References

  1. 1 2 3 "OREX Key Statistics". MarketWatch . Retrieved 12 September 2014.[ dead link ]
  2. 1 2 Osborne, Spencer (7 October 2014). "Orexigen On A Tear - In The Wrong Direction". Seeking Alpha .
  3. 1 2 "Orexigen Enters into Agreement to Sell Company to Newly Formed Entity Nalpropion Pharmaceuticals". BioSpace. Retrieved 2020-06-15.
  4. "U.S. drugmaker Orexigen files for Chapter 11 bankruptcy". Reuters. 2018-03-12. Retrieved 2019-07-30.
  5. "No magic pill for obesity: Orexigen files for bankruptcy". BioPharma Dive. Retrieved 2020-06-15.