Zogenix keeps in sight of GW Pharmaceuticals with timely FDA designation

In contrast to much of the stock market, Zogenix (Nasdaq: ZGNX) was looking for further gains rather than consolidation as trading progressed into the afternoon on Tuesday.

The USA-based CNS-focused biotech firm was 4% up on the previous close by lunchtime, at $37.18, as investors reacted to the news that its investigational product, ZX008 (low-dose fenfluramine), had been granted Breakthrough Therapy designation from the US Food and Drug Administration (FDA) for the treatment of seizures associated with Dravet syndrome.

Dravet syndrome is a rare, lifelong form of epilepsy beginning in the first year with frequent and prolonged seizures. There are no approved treatments to date.