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SEC Filings

S-1/A
OREXIGEN THERAPEUTICS, INC. filed this Form S-1/A on 02/16/2007
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their product labels a “black box” warning and expanded warning statements regarding an increased risk of suicidal thinking and behavior in children and adolescents being treated with these drugs. The package insert for bupropion includes such a “black box” warning statement. Although neither Contrave nor Excalia is intended to be indicated for or used in the treatment of primary depression, many obese patients are depressed and it is possible that depressed obese patients will use our product candidates, if approved. We expect that a similar warning statement will be required on labeling for both Contrave and Excalia. In December 2006, the FDA held an advisory committee meeting regarding suicidal thinking and behavior in adults being treated with antidepressant drugs. The advisory committee recommended that the “black box” warning be extended to cover adults up to their mid-20’s. We expect that any additional warnings or other labeling changes related to suicidal thinking and behavior in adults will be required on labeling for both Contrave and Excalia. The FDA has also directed manufacturers of antidepressant drugs to create Medication Guides to be distributed to patients regarding the risk of suicidal thinking and behavior in children and adolescents. Although we have not designed either the Contrave or Excalia programs for the treatment of children or adolescents, it is possible that the FDA will require a Medication Guide for both Contrave and Excalia. These warnings and other requirements may have the effect of limiting the market acceptance by our targeted physicians and patients of Contrave and Excalia, if these product candidates are approved.
 
In addition, the package insert for zonisamide, one of the two components of Excalia, has a “Category C” pregnancy precaution in its current approved labeling for an epilepsy indication. This means that animal studies have shown zonisamide to be teratogenic, potentially causing birth defects, and that there are no adequate and well-controlled studies of zonisamide in pregnant women, but the benefits from the use of the drug in pregnant woman may be acceptable despite the potential risks. Zonisamide also has a warning that women of childbearing age should be advised to use contraception due to the teratogenicity seen in animal studies. Because of published concerns in academic journals regarding the possible developmental effects of zonisamide in animals as well as reports from Japan in which women receiving zonisamide combined with other anticonvulsants had children with birth defects, it is likely that Excalia, if approved, will receive a “Category X” pregnancy precaution and would be contraindicated for use by pregnant or nursing women with warnings about use of Excalia in women of childbearing age. This means that there would be a limitation on the use of Excalia without adequate contraception or perhaps a prohibition on the use of Excalia by all women of childbearing age.
 
If any of our product candidates receives marketing approval and we or others later identify undesirable side effects caused by the product, a number of potentially significant negative consequences could result, including:
 
  •      regulatory authorities may withdraw their approval of the product;
 
  •      regulatory authorities may require the addition of labeling statements, such as a “black box” warning with Contrave or Excalia or a contraindication;
 
  •      we may be required to create a Medication Guide outlining the risks of such side effects for distribution to patients;
 
  •      we may be required to change the way the product is administered, conduct additional clinical trials or change the labeling of the product;
 
  •      we could be sued and held liable for harm caused to patients; and
 
  •      our reputation may suffer.
 
Any of these events could prevent us from achieving or maintaining market acceptance of the affected product candidate and could substantially increase the costs of commercializing our product candidates.
 
Delays in the commencement or completion of clinical testing could result in increased costs to us and delay or limit our ability to generate revenues.
 
Delays in the commencement or completion of clinical testing could significantly affect our product development costs. We do not know whether planned clinical trials will begin on time or be completed on


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