Thursday, June 6, 2013
Zogenix Chops Staff
San Diego-based pharmaceutical firm Zogenix has made some big cuts, the firm said yesterday, after the FDA delayed approval for the company's lead product. Zogenix, which is commercializing products for treating central nervous system disorders and pain, said that it has laid of 55 full time employees from its workforce of 148, or approximately 37 percent of the company, in order to extend the company's cash runway. Zogenix blamed the cuts on lack of information from the FDA on approval efforts. The firm said it retains 93 full time equivalent employees at the company, including 57 in sales and marketing; the firm is now hoping the FDA will provide action on its NDA sometime this summer.