Orexigen Therapeutics (OREX) Releases Earnings Results, Misses Expectations By $-0.59 EPS

Orexigen Therapeutics (OREX) reported quarterly earnings results on Thursday, Aug-4-2016. The company reported $-1.73 earnings per share for the quarter, missing the analyst consensus estimate by $-0.59. Analysts had a consensus of $-1.14. The company posted revenue of $7.79 million in the period, compared to analysts expectations of $7.40 million. The company’s revenue was up 50.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.18 EPS.

Orexigen Therapeutics closed down -0.1 points or -2.96% at $3.28 with 1,62,304 shares getting traded on Tusday. Post opening the session at $3.36, the shares hit an intraday low of $3.18 and an intraday high of $3.4 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on Mar 2, 2015, Mark D Booth (Chief Commercial Officer) sold 50,000 shares at $5.68 per share price.

Orexigen Therapeutics Inc. (Orexigen) is a biopharmaceutical company. The Company is focused on the development of pharmaceutical product candidates for the treatment of obesity. The Company’s product is Contrave a fixed dose combination of bupropion hydrochloride (HCl) extended release (ER) and naltrexone HCl ER. The Company’s product Contrave is approved in the United States by the United States Food and Drug Administration (FDA) as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adults with an initial body mass index (BMI) of around 30 kilograms per square meter (kg/m2) or greater (obese) or around 27 kilograms per square meter or greater (overweight) in the presence of at least one weight-related comorbid condition. The Company also submitted an application for marketing authorization with the European Medicines Agency (EMA) for Contrave under the name Mysimba.

Orexigen Therapeutics

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