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SEC Filings

10-Q
OREXIGEN THERAPEUTICS, INC. filed this Form 10-Q on 05/12/2017
Entire Document
 

 

PART I. FINANCIAL INFORMATION

ITEM 1.

FINANCIAL STATEMENTS

Orexigen Therapeutics, Inc.

Condensed Consolidated Balance Sheets

(In thousands, except share and par value amounts)

 

 

 

March 31, 2017

 

 

December 31, 2016

 

 

 

(Unaudited)

 

 

(See Note below)

 

Assets

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

76,656

 

 

$

92,494

 

Accounts receivable, net

 

 

6,277

 

 

 

1,102

 

Investment securities, available-for-sale

 

 

9,985

 

 

 

11,499

 

Restricted cash and investments

 

 

40,000

 

 

 

90,005

 

Inventory

 

 

20,663

 

 

 

23,193

 

Prepaid expenses and other current assets

 

 

4,938

 

 

 

6,168

 

Total current assets

 

 

158,519

 

 

 

224,461

 

Property and equipment, net

 

 

927

 

 

 

1,044

 

Intangible assets

 

 

74,077

 

 

 

76,061

 

Other long-term assets

 

 

2,672

 

 

 

2,835

 

Restricted cash

 

 

188

 

 

 

188

 

Total assets

 

$

236,383

 

 

$

304,589

 

 

 

 

 

 

 

 

 

 

Liabilities and stockholders’ equity

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Accounts payable

 

$

15,640

 

 

$

15,210

 

Accrued expenses

 

 

32,106

 

 

 

30,412

 

Contingent consideration

 

 

 

 

 

15,000

 

Deferred revenue, current portion

 

 

1,713

 

 

 

4,738

 

Total current liabilities

 

 

49,459

 

 

 

65,360

 

Long-term contingent consideration

 

 

8,200

 

 

 

6,800

 

Long-term convertible debt

 

 

24,701

 

 

 

64,279

 

Long-term convertible debt, at fair value

 

 

152,466

 

 

 

101,900

 

Deferred revenue, less current portion

 

 

6,069

 

 

 

5,863

 

Commitments and contingencies

 

 

 

 

 

 

 

 

Series Z preferred stock, $0.001 par value, 219,994 shares issued and outstanding at

   March 31, 2017 and December 31, 2016

 

 

3,343

 

 

 

3,343

 

Stockholders’ equity:

 

 

 

 

 

 

 

 

Preferred stock, $0.001 par value, 10,000,000 shares authorized at March 31, 2017 and

   December 31, 2016; 219,994 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively

 

 

 

 

 

 

Common stock, $0.001 par value, 300,000,000 shares authorized at March 31, 2017

   and December 31, 2016; 15,227,802 and 14,616,751 shares issued and outstanding at

   March 31, 2017 and December 31, 2016, respectively

 

 

15

 

 

 

15

 

Additional paid-in capital

 

 

703,933

 

 

 

698,229

 

Accumulated other comprehensive income

 

 

2,495

 

 

 

4,011

 

Accumulated deficit

 

 

(714,298

)

 

 

(645,211

)

Total stockholders’ equity (deficit)

 

 

(7,855

)

 

 

57,044

 

Total liabilities and stockholders’ equity (deficit)

 

$

236,383

 

 

$

304,589

 

 

See accompanying notes.

Note: The Balance Sheet at December 31, 2016 has been derived from the audited financial statements at that date.

 

 

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