Orexigen Therapeutics, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended Sep. 30, 2009. For the quarter, the company reported a net loss of $14.4 million, or $0.33 per basic and diluted share attributable to common stockholders, compared to a net loss of $24.8 million, or $0.72 per basic and diluted share attributable to common stockholders, for the comparable period in 2008. Total revenues were $22,000 against $22,000 for the same period a year ago. Loss from operations was $14.1 million against $25.1 million for the same period a year ago. For the nine months, the company reported a net loss of $51.5 million, or $1.38 per basic and diluted share attributable to common stockholders, compared to a net loss of $71.1 million, or $2.12 per basic and diluted share attributable to common stockholders, for the comparable period in 2008. Total revenues were $66,000 against $66,000 for the same period a year ago. Loss from operations was $50.7 million against $72.7 million for the same period a year ago.

Orexigen Therapeutics, Inc., Q3 2009 Earnings Call, Nov-04 2009

Orexigen Therapeutics Inc. announced results from new intent to treat (ITT) analyses from the COR-I and COR-II Phase 3 trials of Contrave� (naltrexone SR/bupropion SR), the first of two late stage Orexigen candidates for the treatment of obesity. These data expand on top-line results announced in July and complement findings from a panel discussion where the company presented data on Contrave patients who completed 56 weeks of therapy. Results showed that, on an ITT basis, approximately 25%-33% lost 10% or more of their body weight and 12%-16% lost at least 15%; and obese patients on Contrave demonstrated significant improvements in important markers of cardiometabolic risk including waist circumference, HDL and triglycerides. All Phase 3 trials in the COR program were 56 week, randomized, double-blind, placebo-controlled trials. The co-primary endpoints were the proportion of patients achieving at least 5% weight loss and percentage change in body weight compared to placebo. Secondary endpoints included multiple measures of cardiometabolic risk, food cravings and eating control, as well as HbA1c in the COR Diabetes trial. Patients were randomized to receive either placebo or Contrave, BID, with a four week titration period.