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8-K
OREXIGEN THERAPEUTICS, INC. filed this Form 8-K on 09/05/2018
Entire Document
 


Case 18-10518-KG     Doc 708     Filed 08/30/18     Page 8 of 11

 

In re: Orexigen Therapeutics, Inc.    Case No. 18-10518 (KG)
Debtor    Reporting Period: July 1, 2018 - July 31, 2018

MOR - 2

Statement of Operations

For the Period: July 1, 2018 - July 31, 2018

(Unaudited)

 

$ USD ‘000s

   July 1, 2018 - July 31, 2018     March 12 - July 31, 2018  

Net product sales

   $ 2,894     $ 27,871  

Cost of product sales

     (729     (6,336

Operating expenses:

    

Research and development

     (300     (2,666

Selling, general and administrative

     (3,366     (32,189

Amortization expense of intangible assets

     (576     (2,987
  

 

 

   

 

 

 

Total operating expenses

     (4,242     (37,842
  

 

 

   

 

 

 

Loss from operations

     (2,078 )      (16,308 ) 

Other income/(expense):

    

Interest income

     142       683  

Refundable tax credit(2)

     —         1,300  

Interest expense

     (128     (728
  

 

 

   

 

 

 

Total other income (expenses)

     13       1,255  
  

 

 

   

 

 

 

Net loss

     (2,064     (15,053

Reorganization expenses (1)

     (134,527     (312,816
  

 

 

   

 

 

 

Net loss

   $ (136,591   $ (327,869
  

 

 

   

 

 

 

Notes:

 

(1)

Reorganization expenses include the loss on sale of assets as well as the write up of the notes to the principle balance, the elimination of the debt discount and debt costs related to the 2013 debt. The loss on sale of assets is not final and pending the completion of a valuation of the non-debtor subsidiaries.

(2)

Refundable tax credit includes refundable alternative minimum tax as created by the Tax Cuts and Jobs Act.