Companies · Pharmaceuticals

Orexigen Therapeutics, Inc.

LA JOLLA · Pharmaceuticals

Diligence memoA one-page analyst read on Orexigen Therapeutics, Inc. — recommendation, valuation, rhythm, risks.
$274.6M
Total raised · real
3
Rounds
0.3×
Latest step-up
Top 3%
Sector rank · raised
Series D+
Latest stage · inferred · Thu Feb 23 2017 00:00:00 GMT+0000 (Coordinated Universal Time)

Orexigen Therapeutics, Inc. looks under-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the pharma sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.40× the median modeled value of Series D+ Pharmaceuticals companies in 2016–2018 (11 peers) — value vs value, same stage and era.
Dormant
  • Last raise 9.3 yr ago; this sector typically re-raises about every 13 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Pharmaceuticals

Orexigen Therapeutics, Inc. is one of 1610 Pharmaceuticals companies tracked from LA JOLLA. By capital raised it ranks among the largest (ahead of 98% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

pharma

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
9
Investors (latest)
2017-02-23
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$2.5B$5.0B$7.5B$10.0BSeries C · 2015-09-10 Raised $60M (real) Modeled valuation $2.1B (est)$60M$2.1BSeries C2015Series D+ · 2016-03-21 Raised $165M (real) Modeled valuation $5.8B (est)$165M$5.8BSeries D+2016Series D+ · 2017-02-23 Raised $50M (real) Modeled valuation $1.8B (est)$50M$1.8BSeries D+2017+$165M+$50MCumulative $275M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series C$60.0M · 2015
Series D+$165.0M · 2016
Series D+ extension$49.6M · 2017

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 33%.

Modeled valuation trajectory
$1.8B
Base estimate est.
$236.1M
Conservative case
$3.8B
Upside case
$413.3M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the pharma sector profile. Directional, not a quoted figure.

Series C · modeled $2.1B · 2015-09-102015Series D+ · modeled $5.8B · 2016-03-21Series D+ · modeled $1.8B · 2017-02-232017
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
71%
Survival probability
57% low · 79% high
1.35×/yr
Annual markup
1.51×/yr upside case
6.0 yr
Elapsed time used
9.3 yr actual, capped for stale marks
pharma
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
9 mo
Avg between rounds
$188.5M/yr
Capital velocity
10.8 yr
On record since
2015
First round
3
Rounds on file
How it compares to the market

Benchmarked against 1610 companies in Pharmaceuticals. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 34× above median
This company$274.6M
Sector median$8.1M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 0.4× of median
This company$49.6M
Sector median$111.8M
Modeled value — vs sector median (estimate, all stages) 23× above median
This company$1.8B
Sector median$76.1M

Raised more than 98% of sector peers (real $). Modeled value above 93% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #9 of 11.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$10.0B$100.0B$100.0M$1.0BCapital raised (log)Concordia International Corp. · Series D+ Raised $228.0M · modeled $8.1B (est)Surterra Holdings, Inc./DE · Series D+ Raised $230.4M · modeled $5.8B (est)Ironwood Pharmaceuticals Inc · Series D+ Raised $350.0M · modeled $5.3B (est)Melinta Therapeutics, Inc. /New/ · Series D+ Raised $346.8M · modeled $4.9B (est)Beam Therapeutics Inc. · Series D+ Raised $218.6M · modeled $4.8B (est)Tris Pharma, Inc. · Series D+ Raised $125.0M · modeled $4.4B (est)Ardelyx, Inc. · Series D+ Raised $210.4M · modeled $3.9B (est)Tesaro, Inc. · Series D+ Raised $255.0M · modeled $1.8B (est)Strongbridge Biopharma plc · Series D+ Raised $220.6M · modeled $1.2B (est)RxBio Holdings, Inc. · Series D+ Raised $128.7M · modeled $12.0M (est)Orexigen Therapeutics, Inc. (this company) Raised $274.6M · modeled $1.8B (est)Orexigen Therapeutics, Inc.
CompanyStageRaised · realValue · estvs peer med.
Concordia International Corp.Series D+$228.0M$8.1B1.82×
Surterra Holdings, Inc./DESeries D+$230.4M$5.8B1.32×
Ironwood Pharmaceuticals IncSeries D+$350.0M$5.3B1.20×
Melinta Therapeutics, Inc. /New/Series D+$346.8M$4.9B1.10×
Beam Therapeutics Inc.Series D+$218.6M$4.8B1.08×
Tris Pharma, Inc.Series D+$125.0M$4.4B1.00×
Ardelyx, Inc.Series D+$210.4M$3.9B0.88×
Tesaro, Inc.Series D+$255.0M$1.8B0.40×
Orexigen Therapeutics, Inc. this companySeries D+$274.6M$1.8B0.40×
Strongbridge Biopharma plcSeries D+$220.6M$1.2B0.28×
RxBio Holdings, Inc.Series D+$128.7M$12.0M0.00×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series C$60.0M2015-09-10$400.0M$2.1B85%
Series D+$165.0M2016-03-21$1.4B$5.8B85%
Series D+$49.6M2017-02-23$413.3M$1.8B90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series C$60.0M2015-09-10
    • First recorded raise — entered as Series C.
    • 1 investor on this round.
  2. Series D+$165.0M2016-03-21
    • Came back fast: 6 mo vs the ~13 mo sector norm.
    • Round 2.8× larger than the prior — scaling up.
    • 21 investors on this round.
  3. Series D+$49.6M2017-02-23
    • Raised 11 mo later, in step with the ~13 mo sector norm.
    • Round 3.3× smaller than the prior — bridge or down round.
    • 9 investors on this round.
Intelligence
2017 ~Q4
Modeled next raise · ~9mo cadence
$49.6M
Modeled next size est.range $49.6M$79.4M
0.3×
Last step-up
$188.5M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Brian H. Dovey6 other2015-09
Louis C. Bock6 other2015-09
Thomas Lynch6 other2016-03
Lota S Zoth3 other2015-09
Joseph Hagan1 other2015-09
Patrick J. Mahaffy1 other2015-09
Preston Klassen1 other2015-09
Wendy L Dixon1 other2015-09
David J Endicott2015-09
Deborah S Jorn2017-02
Eckard S Weber2015-09
Heather Ace2016-03
Jason S Keyes2017-02
Michael Narachi2015-09
Peter Flynn2017-02
Peter K Honig2015-09
Thomas Cannell2015-09
Registry & provenance

Orexigen Therapeutics, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1382911
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Horizon Pharma, Inc.PharmaceuticalsSeries D+$308.4M$5.3Bnetwork1 shared operator · same sector · same stage
Clovis Oncology, Inc.PharmaceuticalsSeries D+$358.3M$6.8Bnetwork1 shared operator · same sector · same stage
Fog Pharmaceuticals, Inc.PharmaceuticalsSeries D+$278.4M$3.1Bsame sector · same stage
Tesaro, Inc.PharmaceuticalsSeries D+$255.0M$1.8Bsame sector · same stage
Eliem Therapeutics, Inc.PharmaceuticalsSeries D+$253.2M$1.3Bsame sector · same stage
DBV Technologies S.A.PharmaceuticalsSeries D+$306.9M$2.6Bsame sector · same stage
Bothwell Capital Holdings CorpPharmaceuticalsSeries D+$310.0M$1.8Bsame sector · same stage
Regulus Therapeutics Inc.PharmaceuticalsSeries B$170.5M$672.5Mnetwork1 shared operator · same sector
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
IntelGenx Technologies Corp.PharmaceuticalsSeed$7.1M82%
TIXiMED, Inc.PharmaceuticalsPre-Seed$2.1M82%
Elixirgen Therapeutics, Inc.BiotechnologySeries A$11.0M82%
AME Therapeutics, Inc.PharmaSeed$25.1M80%
Zetagen Therapeutics, Inc.PharmaceuticalsSeries A$36.5M80%
Emerald Health Pharmaceuticals Inc.PharmaceuticalsSeed$6.9M80%
Anelixis Therapeutics, Inc.BiotechnologySeries A$36.2M80%
Neurexis Therapeutics, Inc.PharmaPre-Seed$16.1M80%
Frequently asked
How much funding has Orexigen Therapeutics, Inc. raised?
Orexigen Therapeutics, Inc. has raised approximately $274.6M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is Orexigen Therapeutics, Inc.'s estimated valuation?
Provath's modeled valuation for Orexigen Therapeutics, Inc. is approximately $1.8B (modeled range $236.1M–$3.8B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Orexigen Therapeutics, Inc. at?
Orexigen Therapeutics, Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Thu Feb 23.
What does Orexigen Therapeutics, Inc. do and where is it based?
Orexigen Therapeutics, Inc. operates in the Pharmaceuticals sector, based in LA JOLLA.
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