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Orexigen® Therapeutics Reports First Quarter Ended March 31, 2011 Financial Results

Wednesday, May 11, 2011 General News J E 4
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Orexigen Therapeutics, Inc.

Statements of Operations

(In thousands, except per share amounts)

(Unaudited)

Three Months Ended

March 31,

2011

2010

Revenues:

Collaborative agreement

$

857

$

-

License revenue

971

22

Total revenues

1,828

22

Operating expenses:

Research and development

6,567

7,981

General and administrative

6,759

6,021

Total operating expenses

13,326

14,002

Loss from operations

(11,498)

(13,980)

Other income (expense):

Interest income

15

46

Interest expense

(120)

(145)

Total other income (expense)

(105)

(99)

Net loss

$

(11,603)

$

(14,079)

Net loss per share - basic and diluted

$

(0.24)

$

(0.30)

Shares used in computing net loss per share – basic and diluted

47,867

47,216

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