Zogenix Provides Business Update
Acquired Brabant Pharma on
October 24, 2014, obtaining global rights for an orphan drug in development for the treatment of Dravet syndrome, a rare and catastrophic form of epilepsy that begins in infancy.
Total prescriptions for Zohydro ER in the fourth quarter 2014 were approximately 19,000, a 26% increase compared to the third quarter 20141.
$20 millionterm loan and a $4 millionrevolving line of credit in December 2014.
Preliminary unaudited cash and cash equivalents as of December 31, 2014 were approximately $42.2 million. This includes
$21.5 millionin cash from the term loan and revolving line of credit secured in December 2014. An additional $8.5 millionis being held in escrow from the proceeds of the sale of Sumavel DosePro to Endo Pharmaceuticalsin May 2014.
Mr. Hawley added, "We have several important clinical activities related to our new product pipeline planned for 2015. The multi-dose clinical trial for Relday will commence in January, with results expected to be available during the third quarter. In addition, we are preparing to begin enrollment in the Phase 3 clinical trial for ZX008 in the third quarter, a major milestone for our orphan drug product candidate for the treatment of Dravet syndrome that we acquired from Brabant Pharma in
The preliminary unaudited cash position discussed above is subject to the completion of financial closing procedures and other developments that may arise between now and the time the financial results for the fourth quarter are finalized, as well as the completion of the audit of the 2014 financial statements. Therefore, actual results may differ materially from these estimates. In addition, the above estimates do not present all information necessary for an understanding of Zogenix's financial condition as of December 31, 2014. Zogenix expects to report full financial results for the fourth quarter and full year ended December 31, 2014 in early March 2015.
Forward Looking Statements
You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and
Zohydro® ER is a registered trademark of
1 Symphony Health Solutions, Source®
Zack Kubow, The Ruth Group646.536.7020, firstname.lastname@example.org