Orexigen Therapeutics (OREX) on Thursday reported second quarter results. We’re bullish on OREX in the near-term, but some revelations on the company’s conference call work against the hypothesis that we put forward two weeks ago. Recall that FDA in June delayed Orexigen’s PDUFA decision for NB32 by 3 months, to September 11. The 3-month extension was unexpected given the positive interim outcome from the LIGHT study and a Special Protocol Assessment in place with the FDA.
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