GlobeNewswire Inc | Aug 16, 2021 05:02PM EDT

August 16, 2021

EMERYVILLE, Calif., Aug. 16, 2021 (GLOBE NEWSWIRE) -- Zogenix(NASDAQ: ZGNX) today announced that the compensation committee of the companys board of directors grantedinducement awards to fourteen new employees. The awards were made on August 15, 2021, under Zogenixs 2021 Employment Inducement Equity Incentive Award Plan, whichwasapproved by the companys board of directors under Nasdaq Marketplace Rule 5635(c)(4), for granting equity awards to new employees of Zogenix as an inducement to join the company. The awards consist of options to purchase an aggregate of 34,580 shares of Zogenix common stock and 17,340 restricted stock units. The options have a ten year term and an exercise price equal to $13.75, the closing price per share of the common stock on August 13, 2021, and vest over a four-year period, with 25% of the options vesting on the first anniversary of each employees respective start date and the remainder vesting in equal monthly installments over the three years thereafter. The restricted stock units vest over a four-year period in four equal annual installments beginning on the first anniversary of the vesting commencement date.

About ZogenixZogenix is a global biopharmaceutical company committed to developing and commercializing therapies with the potential to transform the lives of patients and their families living with rare diseases. The companys first rare disease therapy, FINTEPLA (fenfluramine) oral solution, has been approved by the U.S. FDA and the European Medicines Agency and is in development in Japan for the treatment of seizures associated with Dravet syndrome, a rare, severe lifelong epilepsy. The company has two additional late-stage development programs: one in a rare epilepsy called Lennox-Gastaut syndrome and one in a mitochondrial disease called TK2 deficiency. Zogenix also plans to initiate a study of FINTEPLA in a genetic epilepsy called CDKL5 Deficiency Disorder (CDD) and is collaborating with Tevard Biosciences to identify and develop potential next-generation gene therapies for Dravet syndrome and other genetic epilepsies.

CONTACTS:

ZogenixCorporate Communicationscorpcomms@zogenix.com

InvestorsBrian RitchieManaging Director,LifeSci Advisors LLC+1 (212) 915-2578 |britchie@lifesciadvisors.com

MediaTrish McCallPorter Novelli+1 (805) 390-3279trish.mcall@porternovelli.com