Zogenix, Inc. (NASDAQ:ZGNX), a pharmaceutical company developing therapies for the treatment of orphan and central nervous system (CNS) disorders, today announced that the Company is sponsoring four poster presentations at the 12th European Congress on Epileptology (ECE), taking place this week in Prague, Czech Republic. One poster will feature an update on the efficacy and safety data on ZX008 (low-dose fenfluramine) as an adjunctive therapy for seizures associated with Dravet syndrome from the new patient cohort included in the ongoing Belgian open-label study. This poster will primarily be an encore of the data that were presented in a podium presentation at the 14th International Child Neurology Congress in May 2016.
The three burden of illness-related poster presentations will focus on better understanding the burden Dravet syndrome causes for the patient and their family, and also on identifying clinically relevant outcome measures to assess the impact on the lives of Dravet syndrome patients and their caregivers.
“Our presence at ECE, and our collaborative research into the disease burden of Dravet syndrome, is indicative of Zogenix’s commitment to patients and their families affected by epilepsy,” said Stephen J. Farr, Ph.D., President and CEO. “Importantly, we remain encouraged by the continued meaningful reduction in seizure frequency and sustained cardiovascular safety being demonstrated in the ongoing Belgian open-label study. We are also dedicated to identifying the core clinically relevant quality of life-related outcome measures associated with this devastating condition to better reflect the impact treatments may have. In addition, our ZX008 Phase 3 program for Dravet syndrome continues to enroll patients in the U.S. and internationally, and Zogenix expects that the U.S. and European submissions for market authorization for ZX008 in Dravet syndrome will occur in 2017.”
ZX008 is designated as an orphan drug in both the U.S. and Europe, and also received Fast Track designation in the U.S., for the treatment of Dravet syndrome. (Original Source)
Shares of Zogenix closed today at $9.25, up $0.56 or 6.44%. ZGNX has a 1-year high of $20.89 and a 1-year low of $7.33. The stock’s 50-day moving average is $9.16 and its 200-day moving average is $9.52.
On the ratings front, Zogenix has been the subject of a number of recent research reports. In a report issued on August 10, Oppenheimer analyst Rohit Vanjani reiterated a Buy rating on ZGNX, with a price target of $16, which implies an upside of 85% from current levels. Separately, on the same day, Brean Capital’s Difei Yang reiterated a Buy rating on the stock and has a price target of $28.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Rohit Vanjani and Difei Yang have a total average return of 7.5% and -9.4% respectively. Vanjani has a success rate of 53% and is ranked #458 out of 4147 analysts, while Yang has a success rate of 33% and is ranked #3999.
Zogenix, Inc. is a pharmaceutical company, which is engaged in commercializing and developing products for the treatment of central nervous system disorders and pain with novel drug delivery platforms. The company’s product portfolio includes: Sumavel DosePro, Zohydro and Relday. The Sumavel DosePro product offers fast-acting, easy-to-use subcutaneous administration of sumatriptan for the acute treatment of migraine and cluster headache. The Zohydro product is a 12-hour extended-release formulation of hydrocodone without acetominophen for the treatment of moderate to severe chronic pain requiring around-the-clock opioid therapy. The Relday product is a proprietary, long-acting injectable formulation of risperidone using durect’s SABER controlled-release formulation technology in combination with its DosePro needle-free, subcutaneous drug delivery system.