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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
07/30/201508:00:00Arena Pharmaceuticals to Host Second Quarter 2015 Financial Results...
07/29/201516:39:28Current Report Filing (8-k)
07/29/201508:00:00Arena Pharmaceuticals Initiates a Phase 2 Clinical Trial of APD334...
07/24/201509:25:00Biotechnology Stocks in Motion -- PDL BioPharma, Arena Pharma...
07/13/201518:38:41Initial Statement of Beneficial Ownership (3)
07/09/201517:22:52Current Report Filing (8-k)
07/05/201514:18:03Obesity Statistics Take a Wrong Turn in This Latest Study
06/16/201519:56:18Statement of Changes in Beneficial Ownership (4)
06/16/201519:54:53Statement of Changes in Beneficial Ownership (4)
06/16/201519:53:54Statement of Changes in Beneficial Ownership (4)
06/16/201519:52:47Statement of Changes in Beneficial Ownership (4)
06/16/201519:51:27Statement of Changes in Beneficial Ownership (4)
06/16/201517:00:28Securities Registration: Employee Benefit Plan (s-8)
06/16/201516:57:29Current Report Filing (8-k)
06/16/201516:30:00Arena Pharmaceuticals Announces the Departure of Chief Financial...
06/13/201508:04:033 Biotech Stocks That I Won't Buy
06/09/201511:06:03Obesity Drugs: Stocks to Watch
06/04/201513:30:00Lorcaserin HCl Data to be Presented at American Diabetes Association's...
05/26/201508:00:00Arena Pharmaceuticals to Present at the Jefferies 2015 Global...
05/16/201511:04:02Orexigen Therapeutics, Inc. Goes From Biotech Beauty to Dreadful...

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