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News Breaks
October 25, 2013
14:32 EDTZGNXZogenix surges after FDA approves pain management drug
Shares of Zogenix (ZGNX) are jumping after the company announced that the FDA had approved its pain management drug. WHAT'S NEW: The FDA announced intraday that it approved Zogenix's pain management drug, Zohydro. The agency approved the drug for use by patients who have pain severe enough to require daily, around-the-clock, long-term treatment and who cannot be adequately comforted with other treatment options, the company stated. WHAT'S NOTABLE: In a note to investors on September 27, William Blair analyst Tim Lugo wrote that his price target for Zogenix would have been about $6 if the FDA was to approve Zohydro. According to Lugo, Zogenix had several upcoming catalysts other than Zohydro that could enable the stock to outperform through September 2014. He kept an Outperform rating on the shares. TODAY'S PRICE ACTION: In mid-afternoon trading, Zogenix surged 93c, or 40%, to $3.15.
News For ZGNX From The Last 14 Days
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July 25, 2014
08:01 EDTZGNXZogenix price target lowered to $3.50 from $5 at Stifel
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July 23, 2014
16:56 EDTZGNXZogenix competitor gets FDA approval for abuse-deterrent ER oxycodone
The FDA approved Targiniq ER, an extended-release/long-acting opioid analgesic to treat pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate. Targiniq ER is the second ER/LA opioid analgesic with FDA-approved labeling describing the productís abuse-deterrent properties consistent with the FDAís 2013 draft guidance for industry, the FDA stated. The FDA is requiring postmarketing studies of Targiniq ER, to assess the serious risks of misuse, abuse, increased sensitivity to pain, addiction, overdose, and death associated with long term use beyond 12 weeks. The FDA is also requiring postmarketing studies to further assess the effects of the abuse-deterrent features on the risk for abuse of Targiniq ER. In addition, Targiniq ER is part of the ER/LA Opioid Analgesics Risk Evaluation and Mitigation Strategy. Targiniq ER is manufactured by Purdue Pharma. Zogenix has a competing pain killer drug called Zohydro ER.
July 14, 2014
08:36 EDTZGNXZogenix announces patent for DosePro Needle-free Delivery System
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