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Orexigen Financial Chief Cooper Resigns

DOW JONES NEWSWIRES Orexigen Therapeutics Inc. (OREX) said its chief financial officer is stepping down after four years as the biopharmaceutical company named a strategy executive to replace him on an interim basis. Financial chief and treasurer Graham Cooper resigned for personal reasons, the company said, after spending more than four years commuting to the job from the San Francisco Bay Area. Orexigen is based in San Diego. Cooper will remain in the post until the company reports its year-end results. Orexigen said it will name Jay Hagan, currently its senior vice president of corporate development and strategy, as acting CFO. Hagan joined the company in 2009 after 10 years at the biotech firm Amgen Inc. (AMGN). Orexigen is in a three-way race with Vivus Inc. (VVUS) and Arena Pharmaceuticals Inc. (ARNA) to bring the latest crop of diet pills to market, with Orexigen looking to advance its weight-loss drug Contrave. Coincidentally, Arena also disclosed the upcoming departure of its financial chief last week. Orexigen earlier this month cut 23 jobs, resulting in a 40% reduction of its work force, in the wake of a regulatory rejection of Contrave. Orexigen shares were up 2% to $3.47 in premarket trading. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com;

Stock News for Arena (ARNA)
DateTimeHeadline
04/01/201518:59:27Statement of Changes in Beneficial Ownership (4)
03/30/201519:57:55Arena - Assessing Belviq In South Korea
03/28/201505:21:38Arena: Belviq Sales Flatter Than Needed - Q1 Revenue Miss Likely
03/27/201507:59:45Arena Investors Need To Pay Attention To Competition
03/23/201508:49:56Arena Pharmaceuticals Could Have Better Luck In Quarter 2
03/23/201506:51:27Vivus: Qsymia Sales Slip, Company Needs To Shift Into Gear
03/22/201512:56:03Biotech Stocks: 2 to Avoid, 1 to Buy
03/21/201505:11:59Orexigen - Contrave Scripts Up, Equity Down, Approval In Europe...
03/18/201517:46:50Statement of Changes in Beneficial Ownership (4)
03/16/201509:51:47Vivus' Qsymia Breaks 3-Week Stagnancy, Could Start Upward Trend
03/16/201508:27:08Who Will Be Orexigen's Ex-U.S. Partner? My Bet Is On Takeda
03/15/201520:45:03Orexigen - Contrave Scripts Rise Over 6%, But The Focus Is On...
03/13/201517:44:08Vivus - Qsymia Scripts Pass 11,000 For First Time In 2015
03/11/201508:26:11Arena Scripts Still Slower Than Needed - Are Downgrades In The...
03/10/201502:21:06Novo Nordisk Readies For Saxenda Launch - Investors Need To Keep...
03/10/201502:07:01Arena - Belviq Ads Slow Substantially - Eisai Promises Seem To...
03/09/201510:37:08Orexigen's Contrave Blunder Due To Weak Intellectual Property...
03/04/201517:55:55Statement of Changes in Beneficial Ownership (4)
03/03/201516:26:44Current Report Filing (8-k)
03/02/201520:07:03Arena's (ARNA) CEO Jack Lief on Q4 2014 Results - Earnings Call...

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