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Stock Market & Financial Investment News

News Breaks
May 2, 2014
10:24 EDTOREX, MJNOptions with increasing implied volatility: OREX MJN SWY
News For OREX;MJN From The Last 14 Days
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March 4, 2015
09:08 EDTOREXOn The Fly: Pre-market Movers
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08:06 EDTOREXOrexigen price target raised to $11 from $8 at Leerink
Leerink raised its price target for Orexigen shares to $11 after specialists told the firm their opinions of Contrave have improved significantly following yesterday's data. Leerink reiterates an Outperform rating on the stock.
05:58 EDTOREXStocks with implied volatility movement; OREX FAST
Stocks with implied volatility movement; Orexigen (OREX) 105, Fastenal (FAST) 29 according to iVolatility.
March 3, 2015
18:33 EDTOREXOn The Fly: After Hours Movers
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15:56 EDTOREXOrexigen says committed to working with FDA, other regulatory authorities
In a statement to Adam Feuerstein of TheStreet, Orexigen said: "Orexigen has been working closely with, and is committed to continuing to work with FDA and others to support its regulatory obligations to thoroughly explore Contrave's therapeutic profile...Orexigen is also committed to simultaneously meeting its obligations to other regulatory authorities in the U.S., such as the SEC, and abroad, such as the EMA, which are relevant to, and have authority over, it business." Reference Link
14:56 EDTOREXOrexigen options active after disclosing weight loss drug data
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14:19 EDTOREXOrexigen released trial data without telling DMC, Forbes contributor says
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13:59 EDTOREXOrexigen price target raised to $13 from $10 at BofA/Merrill
12:12 EDTOREXOn The Fly: Midday Wrap
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11:25 EDTOREXOrexigen surges after disclosing weight loss drug data, patent news
Shares of Orexigen (OREX) are surging in morning trading after the company disclosed the data from the 25% interim analysis of the LIGHT cardiovascular study when announcing a method of treatment patent was issued for its weight loss drug, Contrave. In the filing, the company disclosed that Contrave demonstrated a statistically significant benefit over placebo for cardiovascular events, including CV death. ANALYST OPINION: The new patent announced today extends protection for Contrave to 2034, analysts at Piper Jaffray stated. The firm thinks the new data could possibly drive a competitive advantage in the U.S. market for Contrave, and enhance probability of approvals outside the U.S. It kept an Overweight rating on Orexigen and raised its price target on the stock to $26 from $16. Meanwhile, Leerink noted the data show a statistically significant Contrave benefit in the intent-to-treat population on MACE, myocardial infarction, stroke, and cardiovascular death. The firm believes the results "present meaningful upside to expectations" and could have a positive impact on the Contrave launch if they are included on the drug's labels. Leerink reiterates an Outperform rating on Orexigen. OTHERS TO WATCH: Other companies that offer weight loss drugs that compete with Contrave include VIVUS (VVUS) and Arena Pharmaceuticals (ARNA). PRICE ACTION: In morning trading, Orexigen shares surged 44.5% to $8.37, VIVUS shares rose 8% to $2.99 and Arena slid 3.5% to $4.13.
11:01 EDTOREXOrexigen price target raised to $26 from $16 at Piper Jaffray
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10:47 EDTOREXOrexigen Contrave data offer upside to expectations, says Leerink
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10:42 EDTOREXOrexigen discloses patents with data on Contrave effect on CV outcomes
Orexigen disclosed in a regulatory filing that on March 3 the United States Patent and Trademark Office issued U.S. Patent No. 8,969,371 and made publicly available provisional patent applications to which the '371 Patent claims priority. The '371 Patent and the Provisional Patent Applications incorporate data from a pre-planned interim analysis of the large, randomized, placebo-controlled, cardiovascular, or CV, outcomes trial of Contrave, or the Light Study. The '371 Patent, which expires in 2034, is the first in the Light Study family of patent applications Orexigen has prosecuted and covers two subgroups of the larger Light Study patient population. The Provisional Patent Applications are part of the same family of patent applications that were first filed in December 2013. The '371 Patent and the Provisional Patent Applications contain claims related to a positive effect of Contrave on CV outcomes. The observed effects on CV outcomes were unexpected and appear to be unrelated to weight change, the company said. Contrave is indicated as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adults with an initial body mass index of 30 kg/m2 or greater or 27 kg/m2 or greater in the presence of at least one weight-related comorbid condition "Importantly, the U.S. package insert for Contrave states that the effect of Contrave on CV morbidity and mortality has not been established," the company noted. For regulatory approval purposes, the Light Study included a pre-planned interim analysis designed to exclude a doubling of CV risk compared to placebo. This analysis was conducted based on 94 observed and adjudicated major adverse cardiovascular events, which was approximately 25% of the planned MACE for the Light Study. The 25% Interim Analysis was prospectively designed to enable an early and preliminary assessment of safety to support regulatory approval. A larger number of MACE are required to precisely determine the effect of Contrave on CV outcomes, Orexigen said.
March 2, 2015
09:05 EDTMJNMead Johnson management to meet with JPMorgan
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February 26, 2015
16:12 EDTMJNMead Johnson raises dividend to 41.25c per share from 37.5c per share
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08:21 EDTOREXOrexigen Contrave sales encouraging, says RBC Capital
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07:22 EDTOREXOrexigen Contrave off to strong start, says JMP Securities
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February 25, 2015
06:33 EDTOREXOrexigen reports Q4 EPS 0c, consensus 21c
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February 24, 2015
09:03 EDTOREXUltragenyx adds Orexigen CEO to board
Ultragenyx Pharmaceutical (RARE) announced the appointment of Michael Narachi to the company's board, effective February 20. Narachi, President and CEO and a director of Orexigen Therapeutics (OREX), will serve as an independent director to Ultragenyx.
08:10 EDTOREXOrexigen resumed with an Outperform at Leerink
Target $8.
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