Orexigen Therapeutics Inc.

San Diego, Calif. • 858-436-8600 • www.orexigen.com

Exchange and Ticker: Nasdaq: OREX

Filing Range: 6 million shares @ $11.00 to $13.00

Offering Price: $12.00

Close on First Day: $12.90

Offering Size: $84.00M

Shares Outstanding: 24,860,270M

Underwriter: Merrill Lynch

Co-managers: JMP Securities LLC/ Leerink Swann & Co./ J.P. Morgan

Company Counsel: Latham & Watkins

Manager Counsel: Blank Rome LLP

Auditor: Ernst & Young LLP

Market Capitalization on 4/30/07: $349.29M

Close price at current month end: $14.05

DESCRIPTION

Develops and commercializes drug treatments for obesity therapeutics and other related disorders. The company develops and commercializes combinations of currently available drugs that are designed to achieve and sustain weight loss by enhancing satiety, diminishing appetite, improving energy expenditure and minimizing the body’s efforts to compensate for weight loss. Competitors include Abbott Laboratories, Alizyme plc, Amylin Pharmaceuticals Inc.,Arena Pharmaceuticals Inc., Merck & Co., Peptimmune Inc., Roche Laboratories Inc., Sanofi-Aventis, and Vivus Inc.

VENTURE BACKERS

Domain Associates, Duke University, Kleiner Perkins Caufield & Byers, Montreux Equity Partners, Morgenthaler Ventures, MPM Capital, Scale Venture Partners, Sofinnova Ventures, Wasatch Venture Fund.

Source: Thomson Financial