SAN FRANCISCO ( TheStreet) -- Orexigen Therapeutics (OREX) said results from a cardiovascular safety study of its weight-loss pill Contrave could be ready as early as the second quarter. If positive, the company will resubmit the drug for FDA approval in the second half of the year.
Orexigen CEO Michael Narachi provided an update on Contrave at the J.P. Morgan Healthcare Conference on Tuesday.
Contrave could be approved in the first half of 2014. The commercial launch of the weight-loss pill is being handled by Takeda, which has a lot of metabolic drug experience. (Actos is a blockbuster diabetes drug.) This experience could prove beneficial with the Contrave launch.
Orexigen's $488 million market value is significantly lower than its obesity competitors Arena Pharmaceuticals ($2.1 billion market cap) and Vivus ($1.5 billion market cap.) Arena presents at the J.P. Morgan conference later today.Read a lot more about Orexigen's outlook and the way investors and others reacted to the company's J.P. Morgan presentation on Twitter with this Appeering conversation thread: -- Reported by Adam Feuerstein in Boston. Follow Adam Feuerstein on Twitter.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV