Zogeniz (NASDAQ:ZGNX) is a pharmaceutical company which develops and sells drugs and drug delivery systems which treat central nervous system disorders and pain. The company's first product was Sumavel DosePro which is a needle-free system that delivers sumatriptan, a drug which treats migraines and cluster headaches. Zogenix is also developing a drug, ZX002, which would allow patients to orally consume hydrocodone, a drug to treat moderate to severe chronic pains. Both of these products involve the innovation of a novel way to deliver a drug which is already widely used to treat the pain or disorder at hand.
Zogenix expects that its Sumavel DosePro product will continue to be used by patients for their most painful migraines. Due to its method of delivery, it is faster acting than standard oral procedures. So while migraines effect approximately 30M people in the United States, Zogenix aims to sell it products to those who experience particularly painful migraines or cluster headaches. Zogenix's drug ZX002 is in Phase 3 of clinical trials. The market this product would compete in was approximately $13B in yearly sales as of June 2010. After the Phase 3 trials are complete, the company expects to submit a New Drug Application with the Food and Drug Administration (FDA) in early 2012. 
The company's initial public offering of stock on the NASDAQ occurred on November 22, 2010. The company offered 14M shares each for $4. This was well below the initial range of between $12 and $14. However, the company increased the number of shares offered from the original 6M planned. The IPO raised a total of $56M. The lead underwriters of the deal were Wells Fargo (WFC) and Leerink Swann.
Zogenix only began to generate revenue during the 9 months ended in 2010. Prior to that, the company was pre-revenue and was focused on the research and development of its drugs. As a result, the company reported a net loss of $46M in 2008 and 2009.  Due to this, the company had an accumulated debt of $196M as of September 2010. Zogenix planned to use the funds from the IPO to continue its research and development and manage its debt.