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ZOGENIX, INC.

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2021 10-K, filed Mar 1, 2022. Its latest SEC filing is a SC 13G/A from May 16, 2022.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Sells Fintepla, a treatment for seizures associated with Dravet syndrome, to specialty distributors and pharmacies. Develops treatments for other rare epilepsy disorders and an inherited mitochondrial disease.

How Did They Make Money?

Makes money from Fintepla sales to a U.S. specialty distributor and European pharmacies; sales are counted when the product is delivered, and invoices are generally issued before or at delivery. Its Japan agreement can also bring payment for distribution rights and regulatory and sales milestones.

FY2021 revenue

Who Were Their Customers?

In the U.S., a specialty distributor buys Fintepla and resells it through a specialty pharmacy. In Germany and France, a logistics provider distributes it to pharmacies, which buy from Zogenix and resell to patients and health care providers.

Did Revenues Turn Into Profits?

No. It lost $227.4M in FY2021.

Operating income, FY2021
−274% of revenue
▼ −10% (Loss) vs FY2020 (−$247.7M, −1816%)
Net income, FY2021
−278% of revenue
▲ +9% (Loss) vs FY2020 (−$209.4M, −1535%)
Free cash flow, FY2021
−227% of revenue
▲ +10% (Loss) vs FY2020 (−$168.2M, −1233%)

How Were They Changing?

Since the FY2021 annual report
  • Mar 7, 2022 Merger completed and shares converted into offer consideration Shares were converted into the right to receive cash and contingent value rights.

Grew. Revenue grew 8.3x in 4 years, from $9.8M in FY2017 to $81.7M in FY2021, about 70% a year.

Fintepla became a marketed medicine The earlier report describes Fintepla as a product candidate with regulatory applications pending; the latest describes it as approved and being sold in the U.S., Germany and France.

Added a mitochondrial disease program The earlier report centers its clinical pipeline on Fintepla; the latest also describes a late-stage investigational treatment program for an inherited mitochondrial disease.

Who Did They Compete With?

Competes with GW Pharmaceuticals, Biocodex, Takeda Pharmaceutical, Longboard Pharmaceuticals, Epygenix Therapeutics, Supernus Pharmaceuticals, Stoke Therapeutics, Neurocrine Biosciences, Encoded Therapeutics, Neucyte, NeuroCycle Therapeutics, Sarepta Therapeutics, Metro International Biotech, PTC Therapeutics, Reata Pharmaceuticals, Reneo Pharmaceuticals, Stealth BioTherapeutics, and Wellstat Therapeutics

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