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Follow-on offering nets $81.6mm for Orexigen

Executive Summary

Obesity-focused Orexigen Therapeutics netted $81.6mm through a follow-on public offering of 10mm common shares (including the overallotment) at $7.50. The company plans to use part of the proceeds to prepare the NDA for its lead Contrave, and for ongoing Phase II trials of Empatic. Both candidates are under development for weight loss.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • FOPO

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