Shares of biotech stock Zogenix had an exciting trading day on Friday after the company reported positive epilepsy drug test results.
The company’s drug ZX008 succeeded in showing improvements in reducing seizures for patients that have Dravet syndrome in a Phase 3 trial.
Shares increased by 180% in midday trading on Friday after the company revealed the results.
The study had 119 patients participating and one of the three dosage groups experienced a 64% reduction in monthly convulsive seizures. This was in comparison to the placebo treatments.
The company expects results from a second trial in the first half of 2018.
CEO Stephen Farr commented, “We remain on track to submit applications for regulatory approvals in the U.S. and Europe in the second half of 2018.”
Disclaimer: We have no position in Zogenix, Inc. (NASDAQ: ZGNX) and have not been compensated for this article.