Orexigen Therapeutics (OREX) Misses Q2 EPS by 26c

Orexigen Therapeutics (NASDAQ: OREX) reported Q2 EPS of ($1.73), $0.26 worse than the analyst estimate of ($1.47). Revenue for the quarter came in at $7.8 million versus the consensus estimate of $6.88 million.

As of June 30, 2016, Orexigen had $264.4 million in cash, restricted cash and investments, and short term investments.

"Earlier this week we completed our acquisition of U.S. rights to Contrave®, transforming Orexigen into a fully integrated commercial pharmaceutical company focused on our mission to improve the health and lives of patients struggling to lose weight," said Mike Narachi, CEO of Orexigen. "With the completion of this acquisition and the development of our independent commercialization capabilities over the past several months, Orexigen is ready to execute on our strategy to grow Contrave sales in the U.S. with our targeted specialty sales force and to market Mysimba® and Contrave outside the U.S. through multiple, regionally specific partnerships."

For earnings history and earnings-related data on Orexigen Therapeutics (OREX) click here.

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