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T R O U B L E D C O M P A N Y R E P O R T E R
Saturday, April 28, 2018, Vol. 22, No. 117
Headlines
OREXIGEN THERAPEUTICS: Files Initial Monthly Operating Report
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OREXIGEN THERAPEUTICS: Files Initial Monthly Operating Report
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Orexigen Therapeutics, Inc., filed an initial monthly operating
report with the U.S. Securities and Exchange Commission on March
27, 2018.
The Debtor's Initial MOR includes a cash flow projection for the
5-week period covering the week ended March 16, 2018 through the
week ended April 13, 2018.
The Debtor projects cash receipts to total $9.00 million for the
5-week period ended April 13. Total operating disbursements for
the same period is projected at $33.62 million.
The Initial MOR also include a schedule of retainers paid to
professionals. Among the Debtors' bankruptcy professionals are
Ernst & Young LLP, Hogan Lovells US LLP, and Morris Nichols Arsht &
Tunnell LLP.
A copy of the initial monthly operating report is available at:
https://is.gd/vVKx0u
About Orexigen Therapeutics
Based in La Jolla, California, Orexigen Therapeutics, Inc. --
http://www.orexigen.com/-- is a biopharmaceutical company focused
on the treatment of weight loss and obesity. It is a publicly
traded company with its shares listed on The NASDAQ Global Select
Market under the ticker symbol "OREX". The company has 111
employees in the U.S.
Orexigen Therapeutics sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 18-10518) on March 12,
2018. In its petition signed by Michael A. Narachi, president and
CEO, the Debtor disclosed $265.1 million in assets and $226.4
million in liabilities.
Judge Kevin Gross presides over the cases.
The Debtor tapped Hogan Lovells US LLP as bankruptcy counsel;
Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel; Ernst &
Young LLP as financial advisor; Perella Weinberg Partners as
investment banker; and Kurtzman Carson Consultants LLC as claims
and noticing agent.
Andrew R. Vara, Acting U.S. Trustee for Region 3, appointed three
creditors to serve on the official committee of unsecured
creditors.
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S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors.
Copyright 2018. All rights reserved. ISSN: 1520-9474.
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