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Biotech / Medical : Biotech News
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To: Biotech Jim who wrote (6585)8/4/2009 8:32:35 AM
From: tom pope   of 7143
 
From a piece in Smartmoney:

Multiple Buys: Orexigen Therapeutics

Orexigen Therapeutics (OREX: 8.05, -0.13, -1.58%) makes no money. I repeat: no money. So why have nine different insiders loaded up on stock this month? The company is a drug developer focused at the moment on a single pill called Contrave. It’s a weight-loss drug made by combining the antidepressant Wellbutrin with an addiction-suppressing drug called naltrexone. Phase 3 trials of the pill -- those are the ones that typically come just before a request for approval -- wrapped up earlier this summer. Subjects lost heaps more weight with Contrave than with a placebo, and reported few side effects that would give regulators pause, according to Canaccord Adams, an investment bank. Canaccord envisions Orexigen booking modest sales in 2011, ramping up to more than $250 million by 2014. That’s roughly what the company sells for today, net of its cash.
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