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Robbins Arroyo LLP: Zogenix, Inc. (ZGNX) Misled Shareholders According to a Recently Filed Lawsuit

SAN DIEGO & EMERYVILLE, Calif.–(BUSINESS WIRE)–lt;a href="https://twitter.com/search?q=%24ZGNX&src=ctag" target="_blank"gt;$ZGNXlt;/agt; lt;a href="https://twitter.com/hashtag/ClassAction?src=hash" target="_blank"gt;#ClassActionlt;/agt;–Shareholder rights law firm Robbins
Arroyo LLP
announces that a purchaser of Zogenix, Inc. filed a class
action complaint against Zogenix, Inc. (NASDAQ: ZGNX) for alleged
violations of the Securities Exchange Act of 1934 between February 6,
2019 and April 8, 2019. Zogenix is a pharmaceutical company that
develops and commercializes therapies for the treatment of
transformative central nervous system disorders in the United States.
Its lead product candidate is ZX008, which is also known commercially by
its trademarked name “FINTEPLA.”

View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/zogenix-inc/

Zogenix’s NDA Contained Inadequate Non-Clinical Data

According to the complaint, in February 2019, Zogenix announced the
submission of its New Drug Application (“NDA”) to the U.S. Food and Drug
Administration (“FDA”) for FINTEPLA. The press release touted Zogenix’s
“two pivotal Phase 3 trials in Dravet syndrome and an interim analysis
from an ongoing open-label extension study” on which the NDA was based.
Throughout February, Zogenix executives reaffirmed positive trial
results. The truth was revealed on April 8, 2019, when Zogenix issued a
press release announcing it had received a Refusal to File letter from
the FDA stating that the NDA was not sufficiently complete to permit a
substantive review. Zogenix disclosed that it had submitted historical
studies rather than conducting its own non-clinical toxicology studies.
It also revealed that if the study was required, it would take Zogenix
12 to 15 months to carry out the studies. On this news, Zogenix’s stock
price fell nearly 23% to close at $39.96 per share on April 9, 2019.

Zogenix Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leo Kandinov at (800)
350-6003, [email protected]
or via the shareholder
information form
on the firm’s website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.

Attorney Advertising. Past results do not guarantee a similar outcome.

Contacts

Leo Kandinov
Robbins Arroyo LLP
5040 Shoreham Place
San
Diego, CA 92122
[email protected]
(619)
525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com

SAN DIEGO & EMERYVILLE, Calif.–(BUSINESS WIRE)–lt;a href="https://twitter.com/search?q=%24ZGNX&src=ctag" target="_blank"gt;$ZGNXlt;/agt; lt;a href="https://twitter.com/hashtag/ClassAction?src=hash" target="_blank"gt;#ClassActionlt;/agt;–Shareholder rights law firm Robbins
Arroyo LLP
announces that a purchaser of Zogenix, Inc. filed a class
action complaint against Zogenix, Inc. (NASDAQ: ZGNX) for alleged
violations of the Securities Exchange Act of 1934 between February 6,
2019 and April 8, 2019. Zogenix is a pharmaceutical company that
develops and commercializes therapies for the treatment of
transformative central nervous system disorders in the United States.
Its lead product candidate is ZX008, which is also known commercially by
its trademarked name “FINTEPLA.”

View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/zogenix-inc/

Zogenix’s NDA Contained Inadequate Non-Clinical Data

According to the complaint, in February 2019, Zogenix announced the
submission of its New Drug Application (“NDA”) to the U.S. Food and Drug
Administration (“FDA”) for FINTEPLA. The press release touted Zogenix’s
“two pivotal Phase 3 trials in Dravet syndrome and an interim analysis
from an ongoing open-label extension study” on which the NDA was based.
Throughout February, Zogenix executives reaffirmed positive trial
results. The truth was revealed on April 8, 2019, when Zogenix issued a
press release announcing it had received a Refusal to File letter from
the FDA stating that the NDA was not sufficiently complete to permit a
substantive review. Zogenix disclosed that it had submitted historical
studies rather than conducting its own non-clinical toxicology studies.
It also revealed that if the study was required, it would take Zogenix
12 to 15 months to carry out the studies. On this news, Zogenix’s stock
price fell nearly 23% to close at $39.96 per share on April 9, 2019.

Zogenix Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leo Kandinov at (800)
350-6003, [email protected]
or via the shareholder
information form
on the firm’s website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.

Attorney Advertising. Past results do not guarantee a similar outcome.

Contacts

Leo Kandinov
Robbins Arroyo LLP
5040 Shoreham Place
San
Diego, CA 92122
[email protected]
(619)
525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com

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