Zogenix shares soar 19% premarket after positive trial for severe epilepsy

Zogenix Inc. shares soared about 19% in premarket trade Thursday, after the biotech reported positive results in a late-stage trial of a treatment for the severe form of epilepsy, Dravet syndrome, in children and young adults. The company said the Phase 3 study of its investigational drug ZX008 met its primary endpoint of reducing convulsive seizure frequency, as well as secondary endpoints. "These impressive study results show the significant impact the addition of ZX008 made in reducing the burden of convulsive seizures for patients who are not adequately controlled using stiripentol, the standard of care for the treatment of Dravet syndrome in Europe," said Professor Rima Nabbout, M.D., Ph.D., Department of Pediatric Neurology, Reference Center for Rare Epilepsies, Necker Enfants Malades Hospital, and Principal Investigator of the trial, called Study 1504. If approved, the drug has the potential to be transformative, for a disease with few available treatment options, he added. Zogenix shares have gained 16.6% in 2018 through Wednesday, while the S&P 500 has gained 3.8%.