The small biotech company, based in Emeryville, Calif., said its lead drug, ZX008, significantly reduced seizure activity compared to a placebo in children with Dravet syndrome, a rare and severe type of epilepsy.
The positive results from the phase 3 clinical trial means Zogenix is halfway towards its goal of filing an FDA marketing application in the second half of 2018. The company is waiting on results from a second phase 3 study of ZX008, expected to read out in the first half of 2018.
Investors were not waiting to celebrate, sending Zogenix shares skyrocketing by 184 percent to $36.50 in Friday’s pre-market session.
ZX008, is a low-dose liquid formulation of the old serotonin booster fenfluramine. You might remember fenfluramine