OREXIGEN™ Therapeutics Completes Initial Public Offering
OREXIGEN™ Therapeutics Completes Initial Public Offering
San Diego, CA, May 1, 2007 - Orexigen™ Therapeutics, Inc. (NASDAQ: OREX) announced today the completion of its initial public offering of 7,000,000 shares of common stock. In addition, the underwriters of its initial public offering exercised their over-allo™ent option in full and purchased an additional 1,050,000 shares of common stock. All of such shares were sold by Orexigen at an initial public offering price of $12.00 per share. Merrill Lynch & Co. acted as sole book-running manager and J.P. Morgan Securities Inc. acted as co-lead manager for the offering. JMP Securities LLC and Leerink Swann & Co., Inc. acted as co-managers for the offering.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on April 25, 2007. The offering was made only by means of a written prospectus forming a part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained from: Merrill Lynch & Co., 4 World Financial Center, New York, NY 10080.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Orexigen Therapeutics
Orexigen Therapeutics, Inc. is a biopharmaceutical company focused on the development of pharmaceutical product candidates for the trea™ent of central nervous system disorders, with an initial focus on obesity. Orexigen's lead combination product candidates targeted for obesity are Contrave™, which is in a Phase III clinical trial, and Empatic™ (formerly Excalia™), which is in a Phase IIb clinical trial.
Contacts:
Corporate
Orexigen Therapeutics Partners
Graham Cooper
858-436-8600
Media
GendeLLindheim BioCom
Stephen Gendel
212-918-4650