Stock Alert: Zogenix Loses 14%

(RTTNews) - Shares of Zogenix, Inc. (ZGNX) are sinking more than 14% on Thursday morning after the pharmaceutical company developing rare disease therapies, said the FDA has extended the review period for the New Drug Application (NDA) for the company's drug candidate FINTEPLA.

The new Prescription Drug User Fee Act (PDUFA) target action date for FINTEPLA, for the treatment of seizures associated with Dravet syndrome, has been extended by three months to June 25, 2020.

ZGNX is currently trading at $22.47, close to its 52-week low of $18.27.

We had alerted about this stock on February 7, when it was trading at $37. The stock is nearly 40% down since then.