- Zogenix (ZGNX) plans to sell $60M worth of shares plus a greenshoe option representing 15% of the offering amount.
- Zogenix intends to use the proceeds to fund the commercialization and/or development its Zohydro painkiller and Relday treatment, while it may also use the money for licensing or acquisitions. Zohydro has just received FDA approval.
- The fund-raising adds to an existing $25M program to sell stock; in Q3, Zogenix sold 6.8M shares and raised $10.9M.
- Q3 net loss $10.9M vs $19.3M last year.
- Cash and cash equivalents as of September 30 $17.4M.
- Total prescriptions +4% on quarter to 21,000; sells 139,000 units, +10%.
- Share plummet 26.7%. (Previous)
More on Zogenix Q3: To sell $60M in shares, stock price plummets
Nov 4 2013, 07:32 ET