|
|
News Breaks | | | | January 3, 2013 | | 07:36 EDT |  | DRRX, ZGNX | Durect announces positive results from Relday Phase 1 clinical trial
Durect (DRRX) announced that its licensee, Zogenix (ZGNX) reported positive single-dose pharmacokinetic results from the Phase 1 clinical trial of Relday, an investigational candidate of a proprietary, once-monthly subcutaneous formulation of risperidone for the treatment of schizophrenia. According to Zogenix, adverse events in the Phase 1 trial in patients diagnosed with schizophrenia were generally mild to moderate and consistent with other risperidone products. | |
|
News For DRRX;ZGNX From The Last 14 Days Check below for free stories on DRRX;ZGNX the last two weeks. |
|
|
| June 5, 2013 | | 08:17 EDT | | ZGNX | Zogenix to reduce workforce by 37%, announces other initiatives
Zogenix announced initiatives to extend its cash runway to reach key business milestones that may occur over the remainder of the year. The company's initiatives include a reduction in the company's workforce of 148 by a total of 55 full-time equivalent employees, approximately 37%, across all functional areas of the company. Maintaining the company's core commercial capabilities and ability to support the potential launch of Zohydro ER three to four months after potential approval by retaining 93 full-time equivalent employees, including 57 in sales and marketing. The expected timeline for FDA action on the Zohydro ER NDA is unchanged and remains sometime this summer. Cost control initiatives to further reduce operating expenses and capital expenditures. Increase focus on reaching SUMAVEL DosePro brand-level profitability, and to leverage the Zogenix sale force presence in neurology. The company is making encouraging progress towards securing a second product to co-promote with a goal of beginning sometime this summer. Zogenix expects to record most of the expense related to the reduction in force with a one-time charge of approximately $1M in Q2. To date, the company has not raised any capital through its $25M At The Market facility. | | | June 4, 2013 | | 17:20 EDT | | ZGNX | Zogenix to cut 55 workers, take $1M charge
Zogenix disclosed in a regulatory filing that on May 29 the company commenced a restructuring of its workforce, resulting in a reduction in force of approximately 37%, or 55 employees, across all functional areas of the company. Zogenix took these steps as part of its initiatives to extend the company’s cash runway. Charges associated with the reduction in force are expected to be approximately $1M, which includes cash charges of $0.9M in severance costs and $0.1M in non-cash stock-based compensation charges, and are expected to be recorded in Q2. | |
|
|
|
|
|
|
