Shares of Orexigen Therapeutics, Inc. (OREX) climbed more than 9% in the extended session Friday after The Baupost Group, L.L.C. disclosed in a regulatory filing ( SC 13G ) with the U.S. Securities and Exchange Commission (SEC) a 17.17% passive stake (25,821,363 shares) in the company.
Orexigenrecently received the first of three potential $15 million anniversary milestone payments from Takeda Pharmaceuticals, Orexigen's United States partner for obesity drug Contrave(R) (naltrexone HCl and bupropion HCl extended release). Two additional potential $15 million anniversary milestone payments are expected from Takeda in the fourth quarter of each of 2016 and 2017. Orexigen also received just a few weeks ago the $7 million upfront payment from Kwang Dong Pharmaceutical Company Ltd. as part of a Korean distributorship agreement between the companies for Contrave.
Orexigen expects to end 2015 with approximately $190 – 200 million in cash and cash equivalents.
Orexigen Therapeutics, Inc. (OREX) is a biopharmaceutical company focused on the treatment of obesity.
On Friday, billionaire Steve Cohen's Point72 Asset Management, L.P disclosed in an SEC filing ( SC 13G ) a 5.2% passive stake (2,214,647 shares) in Spectranetics Corp. (SPNC).
Spectranetics will release 2015 third quarter financial results after market close on Thursday, October 22, 2015.
Spectranetics Corp. (SPNC)develops, manufactures, markets and distributes medical devices used in minimally invasive procedures within the cardiovascular system.
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