Zogenix announced that its chronic pain drug had aced a late-stage study, putting it on track for a marketing application in early 2012. But the news did little for its share price ($ZGNX), which has dropped 28% this year. After nudging up a bit in early trading the stock was down slightly by mid-morning.
The San Diego-based developer says that the extended release Zohydro (hydrocodone bitartrate) met the primary endpoint for significantly reduced chronic pain. The drug eliminates acetaminophen, which is linked to liver toxicity. Researchers also said that the drug had hit two secondary endpoints: "The proportion of patients with at least 30% improvement in pain intensity and the improvement of overall satisfaction of medication."
"Zohydro will offer hydrocodone for the first time in a convenient 12-hour dose while eliminating acetaminophen," says Zogenix COO Stephen Farr. "Zohydro may simplify physicians' ability to prescribe the appropriate hydrocodone dose for chronic pain while managing the inadvertent overuse of acetaminophen, which is a common ingredient in combination pain products and over-the-counter medications."
- check out the Zogenix release
- here's the Reuters report
- see the AP story