Zogenix, Inc. (ZGNX) stock has experienced an increase of 59.85% in premarket today following the announcement that UCB is going to acquire Zogenix. However, the last trading session closed at $15.64 with a decrease of 1.82%.
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UCB to Acquire ZGNX – What’s happening?
ZGNX announced on 19th January 2022 that UCB has agreed to buy Zogenix, Inc., a worldwide biopharmaceutical business that commercializes and develops medicines for rare illnesses, in a formal deal. According to the terms of the agreement, UCB will launch a tender offer to buy all of Zogenix’s outstanding shares for US$ 26.00 in cash at closing, plus a predicated value right (CVR) for a prospective cash payment of US$ 2.00 if FINTEPLA is approved as an orphan medicine for the treatment of Lennox-Gastaut syndrome by the European Union.
The deal has been overwhelmingly authorized by the boards of directors of both businesses, but it is still subject to the offer of shares representing at least a majority of Zogenix’s outstanding shares, the obtaining of applicable antitrust approvals, and other usual criteria.
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The proposed purchase of Zogenix strengthens UCB’s long-term patient value strategy and commitment to meeting unmet epilepsy needs, with a growing focus on patients with specialized or uncommon types of epilepsy for which there are few choices. Moreover, the Zogenix acquisition complements UCB’s existing therapeutic offerings by providing an approved medicine for a life-threatening, rare infant and childhood-onset epilepsy marked by frequent and severe treatment-resistant seizures that are especially difficult to treat, according to the company. Last but not the least, the company intends to speed up patient access to therapy by leveraging extensive experience, knowledge, and worldwide abilities.
New Drug Application for FINTEPLA
On 21st December 2021, ZGNX reported that it has filed a New Drug Application (J-NDA) to the Japanese Ministry of Health, Labour, and Welfare (MHLW) for the approval of FINTEPLA. There is still a significant unmet need in the Dravet syndrome treatment landscape throughout the world, and Japan is no exception. Moreover, the company is determined to push FINTEPLA as a viable therapeutic option in Japan so that individuals with this uncommon, highly resistant type of childhood-onset epilepsy can benefit from it.
