Zogenix (NASDAQ: ZGNX) the Emeryville, CA-based pharma company developing therapies for rare nervous system disorders, reported positive results in its Phase 3 study of ZX008 in children with Dravet’s Syndrome epilepsy.
The results showed statistically significant reductions in frequency of seizures and other seizure-related measures. The study was a randomized, double blind, placebo controlled Phase 3 study of 119 patients in the USA, Canada, Europe and Australia. Joseph Sullivan, director of Pediatric Epilepsy Center at UCSF Benioff Children’s Hospital San Francisco, said the results were impressive and could lead to new treatments for this condition.
The stock jumped 172% from $12.88 to $35.05 on the news. The stock had traded between $11 and $16 over the last year. The company has a market cap of $870 million.
Source: Zogenix press release