Why Orexigen Therapeutics (OREX) Stock Is Down Today

NEW YORK (TheStreet) -- Orexigen Therapeutics  (OREX) fell Wednesday after the FDA delayed its decision on the company's obesity pill Contrave until Sept. 11.

The FDA was expected to make a decision Wednesday, but it extended its review on Contrave, or NB32, by three months.

"The FDA has indicated that the review extension is needed to reach agreement on the post-marketing obligation related to the previously agreed upon evaluation of cardiovascular (CV) outcomes for NB32," Orexigen said in a statement.

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The stock was down 14.88% to $5.80 at 10:04 a.m.

OREX Price Chart

OREX Price data by YCharts

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