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Filing Details

Accession Number:: 0001178913-10-002137
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-08-16 13:00:00
Reporting Period:: 2010-07-12

Filing Date:: 2010-08-16
Accepted Time:: 2010-08-16 06:47:25
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1382911	Orexigen Therapeutics Inc.	OREX	Pharmaceutical Preparations (2834)	651178822

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1496201	Ltd. Management Funds Sphera	Platinum House, 21 Ha'Arba'Ah St. Tel Aviv L3	No	No	No	Yes
1496202	Ron Senator	C/O Sphera Funds Management Ltd. Platinum House, 21 Ha'Arba'Ah St. Tel Aviv L3	No	No	No	Yes
1496203	Doron Breen	C/O Sphera Funds Management Ltd. Platinum House, 21 Ha'Arba'Ah St. Tel Aviv L3	No	No	No	Yes
1496204	Israel Mor	C/O Sphera Funds Management Ltd. Platinum House, 21 Ha'Arba'Ah St. Tel Aviv L3	No	No	No	Yes

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2010-07-12	20,000	$4.15	571,877	No	4	S	Indirect	By Sphera Global Healthcare Management L.P.

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	By Sphera Global Healthcare Management L.P.

Footnotes

These securities are beneficially owned by Sphera Global Healthcare Fund, which invests substantially all of its assets in Sphera Global Healthcare Master Fund. Sphera Global Healthcare Fund and Sphera Global Healthcare Master Fund have delegated all investment decision-making to Sphera Global Healthcare Management L.P. (the "Management Company"). The Management Company is managed, controlled, and operated by its general partner, Sphera Global Healthcare GP Ltd. (the "General Partner"), the shares of which are owned 50% by M. Arkin (1999) Ltd. (the "1999 Company") and 50% by Sphera Funds Management Ltd. ("SFML").
The 1999 Company, wholly-owned by Moshe Arkin, and SFML are each entitled to appoint two members to the board of directors of the General Partner (the "Board of Directors") and two members to the investment committee of the Management Company (the "Investment Committee"). No decision can be made by either the Board of Directors or the Investment Committee without the consent of both Mr. Arkin's designees and the designees of SFML (Sphera Global Healthcare Fund, Sphera Global Healthcare Master Fund, the Management Company, and the General Partner are referred to collectively in this Form 3 as "Healthcare Fund Entities"). In addition, 62.09% of the shares of SFML are owned by companies controlled or wholly-owned by the three founders of SFML, Israel Mor, Doron Breen, and Ron Senator, each of whom currently serves as a director of SFML.
The filing of this Form 4 shall not be construed as an admission that SFML, Mr. Breen, Mr. Mor, or Mr. Senator is or was for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise the beneficial owner of any of the shares of Common Stock of the Company owned by the Healthcare Fund Entities. Pursuant to Rule 16a-1, SFML, Mr. Breen, Mr. Mor, and Mr. Senator disclaims beneficial ownership of the shares of the Company reported herein that are beneficially owned by the Healthcare Fund Entities, except to the extent of their pecuniary interest therein.