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SEC Filings

8-K
OREXIGEN THERAPEUTICS, INC. filed this Form 8-K on 12/14/2018
Entire Document
 


In re: Orexigen Therapeutics, Inc.

Debtor

  

Case No. 18-10518 (KG)

Reporting Period: November 1, 2018 - November 30, 2018

 

MOR - 2

Statement of Operations

For the Period: November 1, 2018 - November 30, 2018

(Unaudited)

 

$ USD ‘000s

   November 1, 2018 - November 30, 2018     March 12 - November 30, 2018  

Net product sales(1)

   $ —       $ 28,050  

Cost of product sales(1)

     —         (6,367

Operating expenses:

    

Research and development(1)

     (9     (2,802

Selling, general and administrative(1)

     (230     (33,125

Amortization expense of intangible assets

     —         (2,987
  

 

 

   

 

 

 

Total operating expenses

     (239     (38,915
  

 

 

   

 

 

 

Loss from operations

     (239     (17,233

Other income/(expense):

    

Interest income

     56       871  

Refundable tax credit(2)

     —         —    

Interest expense(1)

     —         (63
  

 

 

   

 

 

 

Total other income (expenses)

     56       808  
  

 

 

   

 

 

 

Net loss

     (183     (16,424

Reorganization expenses(3)

     (798     (315,161

Net gain/(loss)

    
  

 

 

   

 

 

 
   $ (981   $ (331,586
  

 

 

   

 

 

 

Notes:

 

(1)

On July 27, 2018 the Debtor closed the sale and transferred substantially all of its assets to the Buyer. Activity in these accounts was the result of prior period accruals being trued up.

(2)

Refundable tax credit includes refundable alternative minimum tax as created by the Tax Cuts and Jobs Act. As the result of an audit, the income has been reclassed to 2017.

(3)

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.