Why Zogenix Inc. Stock More Than Doubled Today

Shares of orphan drugmaker Zogenix (NASDAQ: ZGNX) opened almost 150% higher after heavy pre-market trading on Friday. The small-cap biotech got its big lift from a positive top line readout for its experimental Dravet syndrome drug, ZX008, which is currently in two late-stage trials.

According to the company, ZX008 significantly reduced the convulsive seizure frequency in children with Dravet syndrome -- a rare but potentially deadly form of pediatric epilepsy -- when compared to those receiving a placebo in the drug's first pivotal study. Data from the second late-stage trial is expected to be released in the first half of 2018.

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Source: Fool.com