"Orexigen(R) Therapeutics, Inc. (Nasdaq: OREX) announced changes to conserve the Company's resources, focus its efforts on its late-stage obesity programs and realign its management team...We can only hope that the new year will bring the demise of this company and all others like it.
'While our balance sheet remains strong, the Company recognizes the challenges of the current economic environment and the need to focus our resources on our late-stage obesity programs,' said Eckard Weber, M.D., the Company's Interim President and Chief Executive Officer and Executive Chairman. 'I would like to thank Gary, along with the other members of the departing group, for their extensive contributions to Orexigen. We believe we are in a very favorable position largely as a result of their efforts.'
The Company is directing all of its efforts and resources to Contrave(R) and Empatic(TM), its obesity product candidates. It anticipates announcing the results from the first Phase 3 clinical trial for Contrave in January."
Monday, January 26, 2009
Orexigen(R) Therapeutics Announces Changes To Its Clinical Programs And Management Team
Follow-up on crap.
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