UNITED STATES
			SECURITIES AND EXCHANGE COMMISSION
	   		    Washington, D.C.  20549

				  SCHEDULE 13G/A

    		  Under the Securities Exchange Act of 1934

			       (Amendment No. 1)


			  Orexigen Therapeutics, Inc.

			       (Name of Issuer)


			         Common Stock

			(Title of Class of Securities)


				  686164302

				(CUSIP Number)

			      December 31, 2016

        (Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

|X|	Rule 13d-1(b)
| |	Rule 13d-1(c)
| |	Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).






CUSIP No. 686164302		Schedule 13G/A			Page 2 of 9
___________________________________________________________________________
1.Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Telemetry Investments, L.L.C.
13-4081603
___________________________________________________________________________

2.Check the Appropriate Box if a Member of a Group (See Instructions)
(a) /  /
(b) /  /
___________________________________________________________________________
3.SEC Use Only
___________________________________________________________________________
4.Citizenship or Place of Organization
Delaware
___________________________________________________________________________
Number of
		5.Sole Voting Power

Shares Bene-	0
		_________________________________________________________

ficially owned	6.Shared Voting Power

		1,234,339 (1)
by Each		_________________________________________________________
		7.Sole Dispositive Power

		0
Reporting	_________________________________________________________

		8.Shared Dispositive Power

Person With:	1,234,339 (1)
___________________________________________________________________________
9.Aggregate Amount Beneficially Owned by Each Reporting Person

   1,234,339 (1)
____________________________________________________________________________
10.Check if the Aggregate Amount in Row (9) Excludes Certain Shares
   						(See Instructions)
____________________________________________________________________________
11.Percent of Class Represented by Amount in Row 9

   7.6% (2)
____________________________________________________________________________
12.Type of Reporting Person (See Instructions)

   IA
____________________________________________________________________________

(1) Telemetry Investments, L.L.C. is the investment manager to Telemetry
Securities, L.L.C., a Delaware limited liability company. As of July 31,
2017, Telemetry Securities, L.L.C. holds (i) 140,939 shares of the Issuer's
Common Stock, (ii) 400,000 warrants to acquire 400,000 shares of Common
Stock (the "Warrants"), (iii) $3,000,000 of the Issuer's 0% convertible
senior secured notes due 2020 (the "Senior Convertible Notes") convertible
into 400,000 shares of Common Stock based on a ratio of 133.333 shares of
Common Stock for each $1,000 principal amount of Senior Convertible Notes,
and (iv) $4,401,000 of the Issuer's 2.75% convertible senior notes due 2020
(the "Convertible Notes") convertible into 293,400 shares of Common Stock
based on a ratio of 66.667 shares of Common Stock for each $1,000 principal
amount of Convertible Notes.  As a result of the foregoing, for purposes of
Reg. Section 240.13d-3, Telemetry Securities, L.L.C., Telemetry Investments,
L.L.C., as the investment manager to Telemetry Securities, L.L.C., and each
of Andrew J. Schorr and Daniel P. Schorr, as a manager of Telemetry
Investments, L.L.C., are collectively, the Reporting Persons in respect
of the common shares of the Issuer reported herein.

(2) This percentage is calculated based upon 15,227,802 shares outstanding
of the Issuer, as set forth in the Issuer's Form 10Q, filed with the
Securities and Exchange Commission on May 12, 2017, and includes an
additional 1,093,400 shares issuable to Telemetry Securities, L.L.C.
upon the exercise of the Warrants and the conversion of the Senior
Convertible Notes and the Convertible Notes.



CUSIP No. 686164302		Schedule 13G/A			Page 3 of 9
___________________________________________________________________________
1.Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Andrew J. Schorr
___________________________________________________________________________

2.Check the Appropriate Box if a Member of a Group (See Instructions)
(a) /  /
(b) /  /
___________________________________________________________________________
3.SEC Use Only
___________________________________________________________________________
4.Citizenship or Place of Organization
USA
___________________________________________________________________________
Number of
                5.Sole Voting Power

Shares Bene-    0
                _________________________________________________________

ficially owned  6.Shared Voting Power

                1,234,339 (1)
by Each         _________________________________________________________
                7.Sole Dispositive Power

                0
Reporting       _________________________________________________________

                8.Shared Dispositive Power

Person With:    1,234,339 (1)
___________________________________________________________________________
9.Aggregate Amount Beneficially Owned by Each Reporting Person

   1,234,339 (1)
____________________________________________________________________________
10.Check if the Aggregate Amount in Row (9) Excludes Certain Shares
                                                (See Instructions)
____________________________________________________________________________
11.Percent of Class Represented by Amount in Row 9

   7.6% (2)
____________________________________________________________________________
12.Type of Reporting Person (See Instructions)

   IN
____________________________________________________________________________

(1) Each of Andrew J. Schorr and Daniel P. Schorr are managers of Telemetry
Investments, L.L.C., a registered investment adviser to, and with power to
vote or dispose of the assets of, Telemetry Securities, L.L.C. As of July 31,
2017, Telemetry Securities, L.L.C. holds (i) 140,939 shares of the Issuer's
Common Stock, (ii) 400,000 warrants to acquire 400,000 shares of Common
Stock (the "Warrants"), (iii) $3,000,000 of the Issuer's 0% convertible
senior secured notes due 2020 (the "Senior Convertible Notes") convertible
into 400,000 shares of Common Stock based on a ratio of 133.333 shares of
Common Stock for each $1,000 principal amount of Senior Convertible Notes,
and (iv) $4,401,000 of the Issuer's 2.75% convertible senior notes due 2020
(the "Convertible Notes") convertible into 293,400 shares of Common Stock
based on a ratio of 66.667 shares of Common Stock for each $1,000 principal
amount of Convertible Notes.  As a result of the foregoing, for purposes of
Reg. Section 240.13d-3, Telemetry Securities, L.L.C., Telemetry Investments,
L.L.C., as the investment manager to Telemetry Securities, L.L.C., and each
of Andrew J. Schorr and Daniel P. Schorr, as a manager of Telemetry
Investments, L.L.C., are collectively, the Reporting Persons in respect
of the common shares of the Issuer reported herein.

(2) This percentage is calculated based upon 15,227,802 shares outstanding
of the Issuer, as set forth in the Issuer's Form 10Q, filed with the
Securities and Exchange Commission on May 12, 2017, and includes an
additional 1,093,400 shares issuable to Telemetry Securities, L.L.C.
upon the exercise of the Warrants and the conversion of the Senior
Convertible Notes and the Convertible Notes.


CUSIP No. 686164302             Schedule 13G/A                  Page 4 of 9
___________________________________________________________________________
1.Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Daniel P. Schorr
___________________________________________________________________________

2.Check the Appropriate Box if a Member of a Group (See Instructions)
(a) /  /
(b) /  /
___________________________________________________________________________
3.SEC Use Only
___________________________________________________________________________
4.Citizenship or Place of Organization
USA
___________________________________________________________________________
Number of
                5.Sole Voting Power

Shares Bene-    0
                _________________________________________________________

ficially owned  6.Shared Voting Power

                1,234,339 (1)
by Each         _________________________________________________________
                7.Sole Dispositive Power

                0
Reporting       _________________________________________________________

                8.Shared Dispositive Power

Person With:    1,234,339 (1)
___________________________________________________________________________
9.Aggregate Amount Beneficially Owned by Each Reporting Person

   1,234,339 (1)
____________________________________________________________________________
10.Check if the Aggregate Amount in Row (9) Excludes Certain Shares
                                                (See Instructions)
____________________________________________________________________________
11.Percent of Class Represented by Amount in Row 9

   7.6% (2)
____________________________________________________________________________
12.Type of Reporting Person (See Instructions)

   IN
____________________________________________________________________________

(1) Each of Andrew J. Schorr and Daniel P. Schorr are managers of Telemetry
Investments, L.L.C., a registered investment adviser to, and with power to
vote or dispose of the assets of, Telemetry Securities, L.L.C. As of July 31,
2017, Telemetry Securities, L.L.C. holds (i) 140,939 shares of the Issuer's
Common Stock, (ii) 400,000 warrants to acquire 400,000 shares of Common
Stock (the "Warrants"), (iii) $3,000,000 of the Issuer's 0% convertible
senior secured notes due 2020 (the "Senior Convertible Notes") convertible
into 400,000 shares of Common Stock based on a ratio of 133.333 shares of
Common Stock for each $1,000 principal amount of Senior Convertible Notes,
and (iv) $4,401,000 of the Issuer's 2.75% convertible senior notes due 2020
(the "Convertible Notes") convertible into 293,400 shares of Common Stock
based on a ratio of 66.667 shares of Common Stock for each $1,000 principal
amount of Convertible Notes.  As a result of the foregoing, for purposes of
Reg. Section 240.13d-3, Telemetry Securities, L.L.C., Telemetry Investments,
L.L.C., as the investment manager to Telemetry Securities, L.L.C., and each
of Andrew J. Schorr and Daniel P. Schorr, as a manager of Telemetry
Investments, L.L.C., are collectively, the Reporting Persons in respect
of the common shares of the Issuer reported herein.

(2) This percentage is calculated based upon 15,227,802 shares outstanding
of the Issuer, as set forth in the Issuer's Form 10Q, filed with the
Securities and Exchange Commission on May 12, 2017, and includes an
additional 1,093,400 shares issuable to Telemetry Securities, L.L.C.
upon the exercise of the Warrants and the conversion of the Senior
Convertible Notes and the Convertible Notes.


CUSIP No. 686164302             Schedule 13G/A                  Page 5 of 9
___________________________________________________________________________
1.Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Telemetry Securities, L.L.C.
13-4081600
___________________________________________________________________________

2.Check the Appropriate Box if a Member of a Group (See Instructions)
(a) /  /
(b) /  /
___________________________________________________________________________
3.SEC Use Only
___________________________________________________________________________
4.Citizenship or Place of Organization
Delaware
___________________________________________________________________________
Number of
		5.Sole Voting Power

Shares Bene-	0 (1)
		_________________________________________________________

ficially owned	6.Shared Voting Power

		0
by Each		_________________________________________________________
		7.Sole Dispositive Power

		0 (1)
Reporting	_________________________________________________________

		8.Shared Dispositive Power

Person With:	0
___________________________________________________________________________
9.Aggregate Amount Beneficially Owned by Each Reporting Person

   1,234,339 (1)
____________________________________________________________________________
10.Check if the Aggregate Amount in Row (9) Excludes Certain Shares
   						(See Instructions)
____________________________________________________________________________
11.Percent of Class Represented by Amount in Row 9

   7.6% (2)
____________________________________________________________________________
12.Type of Reporting Person (See Instructions)

   BD
____________________________________________________________________________

(1) As of July 31, 2017, Telemetry Securities, L.L.C. holds (i) 140,939
shares of the Issuer's Common Stock, (ii) 400,000 warrants to acquire
400,000 shares of Common Stock (the "Warrants"), (iii) $3,000,000 of the
Issuer's 0% convertible senior secured notes due 2020 (the "Senior
Convertible Notes") convertible into 400,000 shares of Common Stock
based on a ratio of 133.333 shares of Common Stock for each $1,000
principal amount of Senior Convertible Notes, and (iv) $4,401,000 of the
Issuer's 2.75% convertible senior notes due 2020 (the "Convertible Notes")
convertible into 293,400 shares of Common Stock based on a ratio of 66.667
shares of Common Stock for each $1,000 principal amount of Convertible
Notes.  As a result of the foregoing, for purposes of Reg. Section 240.13d-3,
Telemetry Securities, L.L.C., Telemetry Investments, L.L.C., as the
investment manager to Telemetry Securities, L.L.C., and each of Andrew
J. Schorr and Daniel P. Schorr, as a manager of Telemetry Investments, L.L.C
are collectively, the Reporting Persons in respect of the common shares
of the Issuer reported herein.

(2) This percentage is calculated based upon 15,227,802 shares outstanding
of the Issuer, as set forth in the Issuer's Form 10Q, filed with the
Securities and Exchange Commission on May 12, 2017, and includes an
additional 1,093,400 shares issuable to Telemetry Securities, L.L.C.
upon the exercise of the Warrants and the conversion of the Senior
Convertible Notes and the Convertible Notes.




CUSIP No. 686164302             Schedule 13G/A                  Page 6 of 9

Item 1.

(a)Name of Issuer:

   Orexigen Therapeutics, Inc.


(b)Address of Issuer's Principal Executive Offices

   3344 N. Torrey Pines Ct., Suite 200
   La Jolla, CA 92037

Item 2.

(a)Name of Person Filing

   Telemetry Securities, L.L.C. as the holder of (i) 140,939 share of
   the Issuer's Common Stock, (ii) 400,000 warrants to acquire
   400,000 shares of Common Stock (the "Warrants"), (iii) $3,000,000
   of the Issuer's 0% convertible senior secured notes due 2020
   and (iv) $4,401,000 of the Issuer's 2.75% convertible senior notes
   due 2020, Telemetry Investments, L.L.C., as the investment manager
   to Telemetry Securities, L.L.C., and each of Andrew J. Schorr and
   Daniel P. Schorr, as a manager of Telemetry Investments, L.L.C. are
   collectively, the Reporting Persons hereunder.

   This filing amends that certain Schedule 13G filing made August 3, 2017
   by Telemetry Securities, L.L.C. and Telemetry Investments, L.L.C., to
   add each of Andrew J. Schorr and Daniel P. Schorr, as Reporting Persons.

(b)Address of Principal Business Office or, if none, Residence

   545 Fifth Avenue, Suite 1108
   New York, NY  10017

(c)Citizenship

   Telemetry Investments, L.L.C. and Telemetry Securities, L.L.C.-- Delaware
   Andrew J. Schorr and Daniel P. Schorr  -- USA


(d)Title of Class of Securities

   Common Stock


(e)CUSIP Number

   686164302

Item 3. If this statement is filed pursuant to ss240.13d-1(b) or 240.13d-2(b)
	or (c), check whether the person filing is a:

(a) |X|	Broker or dealer registered under section 15 of the
		Act (15 U.S.C. 78o).(1)
(b) | |	Bank as defined in section 3(s)(6) of the Act (15 U.S.C. 78c).
(c) | |	Insurance Company as defined in section 3(a)(19) of the
		Act (15 U.S.C. 78c).
(d) | |	Investment Company registered under section 8 of the
		Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) |X|	An investment adviser in accordance with
		s240.13d-1(b)(1)(ii)(E);(2)
(f) | |	An employee benefit plan or endowment fund in accordance
		with s240.13d-1(b)(1)(ii)(F);
(g) | |	A parent holding company or control person in accordance
		with s240.13d-1(b)(ii)(G);
(h) | |	A savings associations as defined in Section 3(b) of the
		Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) | |	A church plan that is excluded from the definition of an
		investment company under section 3c(14) of the	Investment
		Company Act of 1940 (15 U.S.C. 80a-3);
(j) | |	Group, in accordance with s240.13d-1(b)(1)(ii)(J).


 (1) Telemetry Securities, L.L.C is a broker-dealer which has recently filed
     a form BDW.
 (2) Telemetry Investments, L.L.C. is an investment adviser.




CUSIP No. 686164302             Schedule 13G/A                  Page 7 of 9

Item 4.  Ownership

Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.

(a) Amount Beneficially Owned:

    1,234,339 shares of common stock of the Issuer, upon (i) the exercise of
    all 400,000 Warrants, (ii) the conversion of all $3,000,000 of the Issuer's
    Senior Convertible Notes, and (iii) the conversion of all $4,401,000 of
    the Issuer's Convertible Notes, held by Reporting Persons.

(b) Percent of Class:

    7.6% of the common stock of the Issuer, based upon the amount outstanding
    as reported in Issuer's most recent current report on Form 10Q, and that
    number of shares of stock that would be issued to effect the exercise
    and conversion of the Warrants, Senior Convertible Notes, and Convertible
    Notes held by Telemetry Securities, L.L.C.

(c) Number of shares as to which such person has:

	(i) Sole power to vote or to direct the vote:
             0

	(ii) Shared power to vote or to direct the vote:
       	     *

	(iii) Sole power to dispose or to direct the disposition of:
	     0

	(iv) Shared power to dispose or to direct the disposition of:
	     *

Instruction:  For computations regarding securities which represent a right
to acquire an underlying security see s240.13d(1).

* This report on Schedule 13G/A is being jointly filed by (i) Telemetry
Securities, L.L.C., (ii) Telemetry Investments, L.L.C. as investment adviser
to Telemetry Securities, L.L.C., (iii) Andrew J. Schorr as a manager and
member of Telemetry Investments, L.L.C. and (iv) Daniel P. Schorr as the
other manager and member of Telemetry Investments, L.L.C.

As of July 31, 2017, Telemetry Securities, L.L.C. holds (i) 140,939
shares of the Issuer's Common Stock, (ii) 400,000 warrants to acquire
400,000 shares of Common Stock (the "Warrants"), (iii) $3,000,000 of the
Issuer's 0% convertible senior secured notes due 2020 (the "Senior
Convertible Notes") convertible into 400,000 shares of Common Stock
based on a ratio of 133.333 shares of Common Stock for each $1,000
principal amount of Senior Convertible Notes, and (iv) $4,401,000 of the
Issuer's 2.75% convertible senior notes due 2020 (the "Convertible Notes")
convertible into 293,400 shares of Common Stock based on a ratio of 66.667
shares of Common Stock for each $1,000 principal amount of Convertible
Notes.  Based on the foregoing, upon exercise of the Warrants and conversion
of the Senior Convertible Notes and Convertible Notes, Telemetry
Securities, L.L.C. would be entitled to receive 1,093,400 shares of
common stock of the issuer, along with the 140,939 shares it currently owns.

Such shares are deemed to be beneficially owned (a) directly by Telemetry
Securities, L.L.C. and (b) indirectly by Telemetry Investments, L.L.C. as
investment adviser to Telemetry Securities, L.L.C. and (c) indirectly by each
of Andrew J. Schorr and Daniel P. Schorr as managers and members of Telemetry
Investments, L.L.C.

The beneficial ownership percentage of 7.6% of the class is calculated
based upon 15,227,802 common shares outstanding of the Issuer, as set
forth in the Issuer's Form 10Q, filed with the Securities and Exchange
Commission on May 12, 2017, and includes an additional 1,093,400 shares
issuable to Telemetry Securities, L.L.C. upon the exercise of the
Warrants and the conversion of the Senior Convertible Notes and the
Convertible Notes.


CUSIP No. 686164302             Schedule 13G/A                  Page 8 of 9

Item 5.	Ownership of Five Percent or Less of a Class

If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following / /.


Item 6.	Ownership of More than Five Percent on Behalf of Another Person.

Telemetry Fund I, L.P. is the sole member of Telemetry Securities, L.L.C.
As such, it and its partners have an indirect right in the proceeds of the
Warrants, the Senior Convertible Notes, and the Convertible Notes, the shares
issuable upon exercise or conversion of the Warrants, the Senior Convertible
Notes and the Convertible Notes, and dividends, if any, payable in respect
of such shares.

Item 7.	Identification and Classification of the Subsidiary Which Acquired
	the Security Being Reported on By the Parent Holding Company

Not Applicable

Item 8.	Identification and Classification of Members of the Group

Not Applicable

Item 9.	Notice of Dissolution of Group

Not Applicable

Item 10. Certification.

     By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and held in the
ordinary course of business and were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control
of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that
purpose or effect.



                                    SIGNATURE

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.

                                              August 10, 2017
                                        ______________________________
                                                    (Date)



TELEMETRY INVESTMENTS, L.L.C.

By:  /s/   Andrew Schorr
    ______________________________
        Name:  Andrew Schorr
        Title: Chief Executive Officer


TELEMETRY SECURITIES, L.L.C.

By: Telemetry Investments, L.L.C., its Investment Manager

By:  /s/   Andrew Schorr
    ______________________________
        Name:  Andrew Schorr
        Title: Chief Executive Officer



     /s/   Andrew Schorr
    ______________________________
        Andrew Schorr



     /s/   Daniel Schorr
    ______________________________
        Daniel Schorr



CUSIP No. 686164302             Schedule 13G/A                  Page 9 of 9

                               EXHIBIT A
                        JOINT FILING AGREEMENT

The undersigned hereby agree that the statement on this Schedule 13G/A
Amendment 1, dated August 10, 2017 (the "Schedule 13G/A"), with respect to
the Shares of Orexigen Therapeutics, Inc., is filed, and all further
amendments thereto will be filed, on behalf of each of us pursuant to
and in accordance with the provisions of Rule 13d-1(k) under the Securities
and Exchange Act of 1934, as amended, and that this Agreement shall be
included as an Exhibit to this Schedule 13G/A.  Each of the undersigned
agrees to be responsible for the timely filing of the Schedule 13G/A, and
for the completeness and accuracy of the information concerning itself
contained therein.  This Agreement may be executed in any number of
counterparts, all of which taken together shall constitute one and the
same instrument.

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of
the 10th day of August, 2017.


TELEMETRY INVESTMENTS, L.L.C.

By:  /s/   Andrew Schorr
    ______________________________
        Name:  Andrew Schorr
        Title: Chief Executive Officer


TELEMETRY SECURITIES, L.L.C.

By: Telemetry Investments, L.L.C., its Investment Manager

By:  /s/   Andrew Schorr
    ______________________________
        Name:  Andrew Schorr
        Title: Chief Executive Officer



     /s/   Andrew Schorr
    ______________________________
        Andrew Schorr



     /s/   Daniel Schorr
    ______________________________
        Daniel Schorr