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SEC Filings

S-1/A
OREXIGEN THERAPEUTICS, INC. filed this Form S-1/A on 04/09/2007
Entire Document
 
Table of Contents

 
SELECTED FINANCIAL DATA
 
The following selected statement of operations data for the years ended December 31, 2004, 2005 and 2006 and the period from September 12, 2002 (inception) to December 31, 2006 and the balance sheet data as of December 31, 2005 and 2006 have been derived from our audited financial statements included elsewhere in this prospectus. The selected statement of operations data for the period from September 12, 2002 (inception) through December 31, 2002 and the year ended December 31, 2003 and the balance sheet data as of December 31, 2002, 2003 and 2004 have been derived from our audited financial statements not included in this prospectus. The selected financial data should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our financial statements and related notes included elsewhere in this prospectus.
 
                                                 
                                  Period from
 
    September 12,
                            September 12,
 
    2002
                            2002
 
    (Inception)
                            (Inception)
 
    Through
                            Through
 
    December 31,
    Years Ended December 31,     December 31,
 
    2002     2003     2004     2005     2006     2006  
 
Statement of Operations Data:
                                               
Revenues:
                                               
Collaborative agreement
  $     $     $     $ 174,137     $     $ 174,137  
License revenue
                      88,230       88,239       176,469  
                                                 
Total revenues
                      262,367       88,239       350,606  
Operating expenses:
                                               
Research and development
          1,163,953       6,144,510       9,708,935       22,586,151       39,603,549  
General and administrative
    1,300       667,088       1,590,500       3,386,167       5,869,438       11,514,493  
                                                 
Total operating expenses
    1,300       1,831,041       7,735,010       13,095,102       28,455,589       51,118,042  
                                                 
Loss from operations
    (1,300 )     (1,831,041 )     (7,735,010 )     (12,832,735 )     (28,367,350 )     (50,767,436 )
Other income (expense):
                                               
Interest income
                47,376       744,165       871,904       1,663,445  
Interest expense
          (50,045 )     (5,702 )           (8,266 )     (64,013 )
                                                 
Total other income (expense)
          (50,045 )     41,674       744,165       863,638       1,599,432  
                                                 
Net loss
    (1,300 )     (1,881,086 )     (7,693,336 )     (12,088,570 )     (27,503,712 )     (49,168,004 )
Accretion to redemption value of redeemable convertible preferred stock
                (12,920 )     (24,142 )     (30,538 )     (67,600 )
Deemed dividend related to beneficial conversion for Series C convertible preferred stock
                            (13,859,649 )     (13,859,649 )
                                                 
Net loss attributable to common stockholders
  $ (1,300 )   $ (1,881,086 )   $ (7,706,256 )   $ (12,112,712 )   $ (41,393,899 )   $ (63,095,253 )
                                                 
Basic and diluted net loss per share(1)
  $ (0.00 )   $ (2.31 )   $ (5.01 )   $ (6.12 )   $ (18.87 )        
                                                 
Shares used to calculate net loss per share(1)
    644,091       813,552       1,538,628       1,980,253       2,193,068          
                                                 
Pro forma basic and diluted net loss per share (unaudited)(1)
                                  $ (1.87 )        
                                                 
Shares used to calculate pro forma net loss per share (unaudited)(1)
                                    14,737,974          
                                                 
 
(1) See Note 2 of Notes to Financial Statements for an explanation of the method used to calculate the historical and pro forma net loss per share and the number of shares used in the computation of the per share amounts.
 


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