Zogenix (ZGNX) Stock Soars on Anti-Seizure Drug Results
Zogenix (NASDAQ:ZGNX) shares were soaring on Thursday following the results of the company’s anti-seizure drug, which has proven to be effective in its latest clinical trial.
The drugmaker developed a drug designed to treat a rare form of childhood epilepsy and it has reportedly been effective in reducing convulsive seizures in a second late-stage trial, with the company’s stock soaring as much as 26% earlier in the day thanks to these results.
The move from Zogenix means that the drug is one step closer to coming to the market to treat Dravet syndrome. The ailment affects an estimated 20,000 patients in the U.S. but current treatments only include a combination of seizure medication and drugs to prevent emergencies.
The company’s drug uses a low-dose liquid solution of fefluramine, which is a medication that is now off the market and it’s known as “fen-phen.” The medication was an obesity drug that was taken off the market due to evidence of heart valve damage.
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However, because it’s a low dose, Zogenix said that there was no safety signal of any cardiovascular abnormality that the company had discovered in its current trials of the drug, up to the current date.
The trial revealed that the treatment diminished the frequency of convulsive seizures by around 62.7% on the median, which is a considerable improvement over the 1.2% reduction in patients consuming the placebo. The figure means that Zogenix met its goal throughout the clinical trial.
ZGNX stock gained 17.8% on Thursday.
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