Zogenix Announces Proposed Public Offering of Common Stock

Zogenix Announces Proposed Public Offering of Common Stock

SAN DIEGO, Nov. 4, 2013 (GLOBE NEWSWIRE) -- Zogenix, Inc. (Nasdaq:ZGNX), a
pharmaceutical company developing and commercializing products for the
treatment of central nervous system disorders and pain, announced today that
it intends to offer and sell $60 million of shares of its common stock in an
underwritten public offering. Zogenix also expects to grant to the
underwriters for the offering a 30-day option to purchase additional shares of
common stock, representing 15% of the offering amount, to cover
over-allotments, if any.All of the shares to be sold in the offering are to be
sold by Zogenix. Zogenix intends to use the net proceeds from the offering to
fund pre-commercialization and commercialization activities for Zohydro^TM ER,
additional development activities of Zohydro ER and Relday^TM, and for working
capital and other general corporate purposes. Zogenix may also use a portion
of the net proceeds to in-license, acquire or invest in complementary
businesses or products.

Stifel, Leerink Swann LLC and Wells Fargo Securities, LLC are acting as
book-running managers for the offering. Oppenheimer & Co. and William Blair &
Company, L.L.C. are acting as co-managers for the offering. The offering is
subject to market conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or terms of the
offering.

The securities described above are being offered by Zogenix pursuant to a
registration statement previously filed and declared effective by the
Securities and Exchange Commission. A preliminary prospectus supplement and
accompanying prospectus relating to this offering will be filed with the
Securities and Exchange Commission. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall there be any
sale of these securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction. When available, copies of the
preliminary prospectus supplement and the accompanying prospectus relating to
this offering may be obtained from Stifel, Nicolaus & Company, Incorporated,
Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco,
California 94104, or by calling (415) 364-2500; or from Leerink Swann LLC,
Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA
02110, by telephone at 1-800-808-7525 or by email at Syndicate@Leerink.com; or
from Wells Fargo Securities, LLC, 1525 West W.T. Harris Boulevard, NC0675,
Charlotte, NC 28262, Attention: Capital Markets Client Support, by telephone
at 1-800-326-5897 or by emailing cmclientsupport@wellsfargo.com.Electronic
copies of the preliminary prospectus supplement and accompanying prospectus
will also be available on the website of the Securities and Exchange
Commission at http://www.sec.gov.

About Zogenix

Zogenix, Inc. (Nasdaq:ZGNX), with offices in San Diego and Emeryville,
California, is a pharmaceutical company committed to developing and
commercializing therapies that address specific clinical needs for people
living with CNS and pain-related conditions who need innovative treatment
alternatives to help them return to normal daily functioning.Zogenix recently
received FDA approval for Zohydro ER (hydrocodone bitartrate) extended-release
capsules, the first extended-release oral formulation of hydrocodone without
acetaminophen.Zogenix developed and commercialized the first needle-free
subcutaneous injection, SUMAVEL^® DosePro^® (sumatriptan injection) for
migraine and cluster headache. The development pipeline for Zogenix includes a
once-monthly subcutaneous injection for schizophrenia.

Forward Looking Statements

Zogenix cautions you that statements included in this press release that are
not a description of historical facts are forward-looking statements. These
forward-looking statements include statements regarding Zogenix's expectations
on the completion, timing and size of the proposed public offering and the
anticipated use of proceeds therefrom. The inclusion of forward-looking
statements should not be regarded as a representation by Zogenix that any of
its plans will be achieved. Actual results may differ from those set forth in
this release due to the risks and uncertainties associated with market
conditions and the satisfaction of customary closing conditions related to the
proposed public offering, as well as risks and uncertainties inherent in
Zogenix's business, including those described in the company's periodic
filings with the Securities and Exchange Commission.

You are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof, and Zogenix undertakes no
obligation to revise or update this release to reflect events or circumstances
after the date hereof. All forward-looking statements are qualified in their
entirety by this cautionary statement. This caution is made under the safe
harbor provisions of Section 21E of the Private Securities Litigation Reform
Act of 1995.

SUMAVEL^®, DosePro^®, Relday^TM and Zohydro^TM ER are trademarks of Zogenix,
Inc.

                                    # # #

                                     FPR

CONTACT: INVESTORS:
         Zack Kubow | The Ruth Group
         646.536.7020 | zkubow@theruthgroup.com
        
         MEDIA:
         Amy Wheeler | The Ruth Group
         646.536.7025 | awheeler@theruthgroup.com