Zogenix Prices Public Offering of Common Stock

Zogenix Prices Public Offering of Common Stock

SAN DIEGO, Nov. 5, 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 has priced an underwritten public offering of 26,666,667 shares of its
common stock at a price to the public of $2.25 per share. Net proceeds, after
underwriting discounts and commissions and estimated offering costs, are
expected to be approximately $56 million.

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.

Zogenix has granted the underwriters a 30-day option to purchase up to
4,000,000 additional shares of common stock to cover over-allotments, if any.
The offering is expected to close on or about November 12, 2013, subject to
satisfaction of customary closing conditions.

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 securities described above are being offered by Zogenix pursuant to
registration statements previously filed and declared effective by 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. The offering may be made only by
means of a prospectus supplement and the accompanying prospectus, copies of
which may be obtained, when available, 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 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 public offering and the expected net
proceeds from the 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
 
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