orex – Scalper1

Orexigen Soars On Obesity Drug’s Surprise Health Boon

Small biotech Orexigen Therapeutics (OREX) surged 48.5% to a four-year high in enormous volume Tuesday on news that its obesity drug might not only make people look better but also help them live longer. Late Monday, Orexigen disclosed that an interim analysis of an ongoing trial looking at cardiovascular events such as heart attacks and strokes in patients on its drug Contrave found a 41% reduction in events for patients on the drug vs. those on

Orexigen Obesity Drug Decision Delayed By FDA

The obesity-drug business received another blow Wednesday when the FDA delayed a decision on Orexigen’s (OREX) NB32, also known as Contrave, by three months. Orexigen’s stock plunged 18% to below 6 in morning trading on the stock market. In a press release, Orexigen said that the FDA wanted more time to “reach agreement on the post-marketing obligation related to the previously agreed upon evaluation of cardiovascular (CV) outcomes for NB32. The