San Diego, CA -- (ReleaseWire) -- 12/11/2012 -- A substantial stock drop prompted an investigation on behalf of investors of Zogenix, Inc. (NASDAQ:ZGNX) shares over potential securities laws violations by Zogenix, Inc. and certain of its directors and officers in connection certain financial statements.
If you purchased shares of Zogenix, Inc. (NASDAQ:ZGNX), you have certain options and you should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Zogenix, Inc. (NASDAQ:ZGNX) concerning whether a series of statements by Zogenix, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Zogenix, Inc. is a pharmaceutical company commercializing and developing products for the treatment of central nervous system disorders and pain. Its lead product candidate, Zohydro is a 12-hour extended-release formulation of hydrocodone without acetaminophen for the treatment of chronic pain requiring opioid therapy. Zogenix, Inc. completed Phase 3 development of Zohydro in 2011 and submitted in May 2012 a New Drug Application to the Food and Drug Administration (“FDA”).
Zogenix, Inc. (NASDAQ:ZGNX) reported that its annual Revenue rose from $23.44 million in 2010 to $37.58 million in 2011, while its Net Loss increased from $73.56 million in 2010 to $83.90 million in 2011.
Shares of Zogenix, Inc. (NASDAQ:ZGNX) grew from as low as $1.42 per share to as high as $3.14 per share in early October 2012.
Then on Dec. 7, 2012, after the market closed, it was disclosed that the FDA panel rejected the new painkiller Zohydro.
Shares of Zogenix, Inc. (NASDAQ:ZGNX) dropped from $2.36 per share on Dec. 6, 2012 to $1.26 per share on Dec. 10, 2012.
Those who purchased shares of Zogenix, Inc. (NASDAQ:ZGNX), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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