San Diego's Orexigen Therapeutics is halting early-stage work on two drugs to focus on its late-stage obesity program. Exploratory proof-of-concept Phase II trials for OREX-003 and OREX-004 will be put on hold, though the company says it will "reinitiate these programs in the future." In addition, CEO Dr. Gary Tollefson is resigning due to medical problems. He has been on leave since November. Orexigen says the company is searching for a permanent replacement for Tollefson.
"While our balance sheet remains strong, the Company recognizes the challenges of the current economic environment and the need to focus our resources on our late-stage obesity programs," said Eckard Weber, M.D., the Company's Interim President and CEO and Executive Chairman.
- see Orexigen's release