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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
04/30/201513:11:57Current Report Filing (8-k)
04/29/201516:26:56Additional Proxy Soliciting Materials (definitive) (defa14a)
04/29/201516:24:19Proxy Statement (definitive) (def 14a)
04/29/201508:00:00Arena Pharmaceuticals Reports Favorable Results from Phase 1...
04/24/201508:10:02Arena Pharmaceuticals Inc.'s Plan to Win the Obesity Drug War
04/21/201509:06:023 Promising Small-Caps Under $10 You Can Buy Right Now
04/15/201508:02:023 Promising Healthcare Stocks Under $10
04/13/201511:00:47Arena's 15,000 Scripts Set Pace Vs. Competitors
04/13/201510:23:41Orexigen: Contrave Scripts Dip - Were My Concerns About Advertising...
04/13/201507:59:01Arena Gets Closer On Extended Release Formulation Of Belviq
04/12/201514:03:03The Best Stock to Invest in Obesity Drugs
04/10/201510:27:12Arena's Partner Eisai Is Slashing Jobs - What Investors Need...
04/10/201509:29:04Arena secures new Belviq patent; Eisai cuts sales force
04/10/201508:48:57Arena completes two Phase 1 trials for once-daily formulation...
04/10/201508:31:53Current Report Filing (8-k)
04/10/201508:00:00Eisai and Arena Pharmaceuticals Complete Registrational Trials...
04/09/201511:45:18Novo Nordisk Quietly Becoming Big Player In Obesity Space
04/09/201508:00:00Arena Pharmaceuticals to Present at the Annual Needham Healthcare...
04/07/201508:00:00Arena Pharmaceuticals Receives Additional Patent for BELVIQ®...
04/04/201513:30:31NASH Series: Novo Nordisk And Cadila Healthcare

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