ZGNX - Why Shares of Drugmaker Zogenix Dropped 11.4% in August
Shares of rare-disease drugmaker Zogenix (NASDAQ: ZGNX) fell 11.4% in August, according to data provided by S&P Global Market Intelligence. That was a much worse performance than the S&P 500, which was only off 1.8% for the month.
This isn't the first wild monthly swing for Zogenix, nor is it likely to be the last. The pharmaceutical company's shares fell sharply in April and finished that month down 29.1%. That was swiftly followed by a 26.8% jump in June. Even with all the wild swings, shares are currently up 18.2% year to date, barely trailing the S&P's 19% gain.
Small pharma companies hope a breakthrough treatment can help them outperform. Image source: Getty Images.