News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Orexigen Therapeutics, Inc. (OREX) Prices Public Offering of Common Stock


10/25/2012 10:36:08 AM

SAN DIEGO, Oct. 25, 2012 /PRNewswire/ -- Orexigen Therapeutics, Inc. (Nasdaq: OREX) today announced that it has priced an underwritten public offering of 11,000,000 shares of its common stock at a price of $5.50 per share. Net proceeds, after underwriting discounts and commissions and estimated expenses, will be approximately $56.5 million. Orexigen has granted the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of common stock. The offering is expected to close on or about October 30, 2012, subject to satisfaction of customary closing conditions. Credit Suisse Securities (USA) LLC, BofA Merrill Lynch and Leerink Swann LLC are acting as joint book-running managers for the offering.

The securities described above are being offered by Orexigen pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained, when available, from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010 or by calling toll-free (800) 221-1037 or emailing a request to newyork.prospectus@credit-suisse.com, from BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New York, NY 10038 or by emailing a request to dg.prospectus_requests@baml.com or from Leerink Swann LLC , Attention: Syndicate Department, One Federal Street, 37th Fl., Boston, MA 02110 or by calling Leerink Swann LLC, toll free, at 1-800-808-7525, Ext. 4814.

About Orexigen® Therapeutics

Orexigen Therapeutics, Inc. is a biopharmaceutical company focused on the treatment of obesity. The Company's lead product candidate is Contrave®, which has completed Phase III clinical trials and for which a New Drug Application has been submitted and reviewed by the FDA. The Company has also reached agreement with the FDA on a Special Protocol Assessment (SPA) for the Light Study, the Contrave cardiovascular outcomes trial. The Company's other product candidate, Empatic, has completed Phase II clinical trials. Further information about the Company can be found at www.orexigen.com.

Orexigen Contact:

Media Contacts:

McDavid Stilwell

Denise Powell

VP, Corporate Communications and Business Development

WCG

(858) 875-8629

(510) 703-9491

SOURCE Orexigen Therapeutics, Inc.


Read at BioSpace.com


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES