Boston, MA 02/03/2014 (wallstreetpr) – Zogenix Inc. (NASDAQ:ZGNX) which is a major dealer in the development and commercialization of products for the treatment of central nervous systemdisorders has announced its Q4 unaudited gross product sales for the sales of SUMAVEL® DosePro®. . The total product revenue from the sale of SUMAVEL DosePro indicate an increase of 30% to stand at $9 million compared to $6.9 million that was reported in the third quarter of the same financial year. This amount is exclusive of revenue that the company had received from the service fee it received for its co-Promotion of Migrana(R) Nasal spray.
Zogenix in numbers
Zogenix Inc. (NASDAQ:ZGNX) expects to report a 2.2% increase on gross product sales on 141,780 units it shipped during the quarter that would represent total revenue of $14 million. Its gross margin looks set to be impacted by one time charge of approximately $1.3 million mainly due to scrap and excesses. The company’s cash equivalents as of the fourth quarter that ended December 31 2013 stood at approximately $72 million.
According to the estimate results,it is clear that the company ended the year on a high. Its chief executive officer Roger Hawley still exudes confidence the company could do even better in 2014. The Chief executive Officer was quoted as saying “We ended the year with Positive momentum for SUMAVEL DOSPro, with sequential unit growth demonstrating the ability of our sales team”. During the fourth Quarter Dogenix focused more on the launching of their newly approved second product that is aimed at addressing pain Market.
Zogenix to end co-promotion of Sumavel DosePro
Zogenix Inc. (NASDAQ:ZGNX) looks set to take full responsibility for the commercialization of its new addition drug that is used for the treatment of headaches, SUMAVEL DosePro a venture it initially shared with Mallickrodt. The companies have come to a conclusive agreement for a detailed consumer transition that will ensure the product continues to be fully accessible to the market. Under the agreement, no company will incur any penalties as it is a mutual agreement between the two parties even though the agreement was set to run till June 30, 2014. The early termination of the agreement is in line with Zogenix Inc. (NASDAQ:ZGNX) plans to expand its own sales promotion force that was set to be fully operational in February.
