Zogenix, which recently launched Sumavel DosePro, a needle-free administration of migraine drug sumatriptan, announced terms for its IPO on Thursday. The San Diego, CA-based company plans to raise $78 million by offering 6 million shares at a price range of $12-$14. At the mid-point of the proposed range, Zogenix will command a market value of $315 million. Zogenix, which was founded in 2006 and booked $8 million in sales for the 12 months ended June 30, plans to list on the NASDAQ under the symbol ZGNX. Wells Fargo Securities and Leerink Swann are the lead underwriters on the deal, which is expected to price during the week of November 15.
