Zogenix Inc. closed its underwritten public offering of common stock, raising about $288.9 million in gross proceeds.
The company priced the offering of 7,705,000 common shares, including 1,005,000 shares sold pursuant to full exercise of the underwriters' overallotment option, at $37.50 per share.
The company plans to use net proceeds to fund clinical research and development of ZX008, including the completion of Zogenix's ongoing clinical trials and regulatory submissions for Dravet syndrome and to fund phase 3 clinical development for Lennox-Gastaut syndrome, commercial infrastructure for ZX008 for Dravet syndrome in the U.S. and working capital and general corporate purposes.
Leerink Partners LLC and Stifel Nicolaus & Co. Inc. acted as joint book-running managers. Mizuho Securities USA LLC and JMP Securities LLC acted as co-lead managers and LifeSci Capital LLC acted as co-manager for the offering.