Print Page  Close Window

SEC Filings

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

Other Transactions and Arrangements
Domain Partners V, L.P and DP V Associates, L.P., two of our common and preferred stockholders, both of which are venture capital funds affiliated with Domain Associates, L.L.C., loaned us an aggregate of $1,650,000 and $15,000 during the years ended December 31, 2003 and 2004, respectively. One of our founding stockholders and chairman of our board of directors, Eckard Weber, M.D., is an employee of Domain Associates, L.L.C., the manager of Domain Partners V, L.P. and DP V Associates, L.P. The notes issued to each of Domain Partners V, L.P and DP V Associates, L.P. pursuant to these loans accrued interest from the date of issuance at an annual rate of 6.25% and matured in January 2004. During January 2004, the principal amounts outstanding under these notes and all accrued interest thereunder, totaling $55,747, were converted into 1,458,259 shares of our Series A preferred stock, of which Domain Partners V, L.P was issued 1,424,900 shares and DP V Associates, L.P. was issued 33,359 shares. Dr. Weber has no ownership interest, or voting or investment power with respect to the shares held by Domain Partners V, L.P. and DP V Associates, L.P.
During the years ended December 31, 2004, 2005 and 2006, we reimbursed Domain Associates L.L.C. for certain expenses incurred on our behalf. These expenses, which included amounts for rent, totaled $27,535, $9,715 and $28,454 for the years ended December 31, 2004, 2005 and 2006, respectively. Rent expense paid under a month-to-month rental agreement to Domain Associates L.L.C. totaled $22,825, $1,900 and $23,500 for the years ended December 31, 2004, 2005 and 2006, respectively.
In August 2006, we entered into a research agreement with Oregon Health & Science University, or OHSU, one of our stockholders, for work conducted by the laboratory of Dr. Michael Cowley, our chief scientific officer. The agreement is primarily for the continuation of the original research underlying the license agreement entered into between us and OHSU in June 2003. We currently expect to pay OHSU up to approximately $847,500 over the 30 month term of the agreement. Approximately $182,000 was payable to OHSU as of December 31, 2006.
Christine Tollefson, M.B.A., is the daughter of our President and Chief Executive Officer, Gary D. Tollefson, M.D., Ph.D., and currently serves as our Marketing Manager at a salary of $120,000 per year, a position she has held since January 2007. In February 2007, we granted to Ms. Tollefson an option to purchase 12,500 shares of our common stock at an exercise price of $10.72 per share, vesting with respect to 25% of the shares subject to the option in January 2008 and monthly thereafter over the following three years.