Zogenix Pops on FDA Acceptance for Review of Zohydro ER NDA

Zogenix, Inc.

is trading higher on the session after announcing the FDA acceptance for review of Zohydro ER new drug application. Zohydro ER is Zogenix's lead investigational product candidate for the treatment of moderate to severe chronic pain. Stephen Farr, Ph.D., president and chief operating officer of Zogenix stated, "We are pleased with the decision by the FDA to accept our submission for filing and look forward to working with them throughout the regulatory process. If approved, Zohydro ER will be classified as a Drug Enforcement Agency (DEA) Schedule II drug, subject to stricter prescribing and dispensing rules compared to the currently prescribed hydrocodone products." Zogenix is currently trading at $2.37, a gain of $0.16 or 7.24%.