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news.Orexigen Therapeutics, a biopharmaceutical company focused on the treatment of obesity, has posted total revenues of $1.83m for the first quarter ended 31 March 2011, compared to $22,000 for the same period in 2010.
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The company has reported a net loss of $11.6m, or $0.24 loss per diluted share, compared to a net loss of $14.08m, or $0.30 loss per diluted share, for the same period in 2010.
For the first quarter of 2011, the company’s loss from operations for the first quarter of 2011 was $11.5m, compared to $13.98m for the same period in 2010.
Orexigen president and CEO Michael Narachi said over the last several months, together with their partner, Takeda, and their external advisors, they have been preparing for a meeting with FDA to discuss a viable path forward for Contrave.
"We have submitted to the Agency a specific, innovative proposal to assess cardiovascular risk and have confirmed a meeting with the Agency later this quarter to discuss our proposal," Narachi said.