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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

OREXIGEN THERAPEUTICS, INC.
(a development stage company)

STATEMENTS OF CASH FLOWS
 
                                 
                      Period from
 
                      September 12, 2002
 
                      (Inception) to
 
    Years Ended December 31,     December 31,
 
    2004     2005     2006     2006  
 
Operating activities
                               
Net loss
  $ (7,693,336 )   $ (12,088,570 )   $ (27,503,712 )   $ (49,168,004 )
Adjustments to reconcile net loss to net cash used in operating activities:
                               
Amortization of premium (discount) on investment securities, available-for-sale
          33,350       74,122       107,472  
Amortization of debt issuance costs
                8,033       8,033  
Depreciation
    3,708       9,282       44,633       58,178  
Loss on disposal of fixed assets
          3,911             3,911  
Issuance of common stock in exchange for technology and services
    44,262                   46,600  
Stock-based compensation
    2,437       1,114,818       2,257,701       3,375,993  
Changes in operating assets and liabilities:
                               
Prepaid expenses and other current assets
    12,577       (262,106 )     42,506       (222,317 )
Accounts payable and accrued expenses
    141,734       1,053,204       3,490,379       4,958,138  
Other assets
    (35,000 )     8,706       (167,409 )     (193,703 )
Deferred rent
                34,052       34,052  
Deferred revenue
          1,411,765       (88,236 )     1,323,529  
                                 
Net cash used in operating activities
    (7,523,618 )     (8,715,640 )     (21,807,931 )     (39,668,118 )
Investing activities
                               
Purchases of investment securities, available-for-sale
          (34,687,885 )     (21,447,243 )     (56,135,128 )
Maturities and sales of investment securities, available-for-sale
          15,700,000       25,350,919       41,050,919  
Purchases of property and equipment
          (150,975 )     (427,310 )     (590,165 )
Restricted cash
    (30,000 )           (125,000 )     (155,000 )
                                 
Net cash provided by (used in) investing activities
    (30,000 )     (19,138,860 )     3,351,366       (15,829,374 )
Financing activities
                               
Proceeds from issuance of redeemable convertible preferred stock for cash, net of issuance costs
    9,193,866       34,914,721             44,108,587  
Proceeds from issuance of convertible preferred stock for cash, net of issuance costs
                29,940,390       29,940,390  
Proceeds from promissory notes
    15,000                   1,665,000  
Costs paid in connection with loan agreement
                (182,816 )     (182,816 )
Costs paid in connection with initial public offering
                (622,501 )     (622,501 )
Proceeds from issuance of common stock, net of repurchases
          5,367       7,000       14,265  
                                 
Net cash provided by financing activities
    9,208,866       34,920,088       29,142,073       74,922,925  
Increase in cash and cash equivalents
    1,655,248       7,065,588       10,685,508       19,425,433  
Cash and cash equivalents at beginning of period
    19,089       1,674,337       8,739,925        
                                 
Cash and cash equivalents at end of period
  $ 1,674,337     $ 8,739,925     $ 19,425,433     $ 19,425,433  
                                 
Non-cash financing activities
                               
Conversion of notes payable and accrued interest to redeemable convertible preferred stock
  $ 1,720,747     $     $     $ 1,720,747  
                                 
Accretion to redemption value of redeemable convertible preferred stock
  $ 12,920     $ 24,142     $ 30,538     $ 67,600  
                                 
 
See accompanying notes.


F-6