#8: Orexigen Therapeutics
YTD Performance: +255%
Orexigen Therapeutics (NASDAQ:OREX) peaked at $7.73 in July before dropping off sharply, but it has come fighting back to a roughly 255% gain year-to-date on the hopes that its obesity drugs will be well-received.
The reason isn’t anything particularly extraordinary on the OREX front, but simply a sympathy bounce thanks to enthusiasm over other obesity drugs. The FDA’s advisory panel has ruled favorably on Arena Pharmaceuticals (NASDAQ:ARNA) drug lorcaserin and Vivus (NASDAQ:VVUS) medication Qnexa, and that could pave the way for other treatments.
OREX still is bleeding cash as it works on its research, but given the obesity epidemic and the push for prevention and treatment, this area of the medical industry is generally a very good place to be.