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Orexigen Therapeutics, Inc. (OREX) Pushes Up Enrollment Deadline for Weight-Loss Drug Study


9/7/2012 6:58:05 AM

Orexigen Therapeutics (NASDAQ:OREX) continues this week's gains in early trading on Thursday, up roughly 20% to $5.35 since Tuesday. The strength comes from Orexigen's announcement that its Phase III safety trial of the weight-loss drug Contrave is enrolling much faster than anticipated. Orexigen expects to close enrollment in the fourth quarter of this year; the company announced similar news in July and bumped guidance for enrollment closure to early 2013. The trial is measuring Contrave patients for major adverse cardiovascular events (MACE) but management is unsure when interim data will be available; rapid enrollment should speed up the process.

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