Reuters: Regulatory News: UPDATE 1-Zogenix estimates 2nd-quarter revenue below Street

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Zogenix estimates 2nd-quarter revenue below Street Jul 23rd 2012, 21:43 Mon Jul 23, 2012 5:43pm EDT July 23 (Reuters) - Zogenix Inc estimated second-quarter net revenue below market expectations, sending its shares down 13 percent after the bell. The company said in a regulatory filing that it expects revenue to be in the range of $7.9 million to $8.4 million for the second quarter. Analysts were expecting revenue of $9 million, according to Thomson Reuters I/B/E/S. Zogenix also said it did not receive any contract revenue for the second quarter due to the termination of a co-promotion agreement for its acute migraine treatment with the U.S. subsidiary of Astellas Pharma. The company earned contract revenue of $8.5 million in the first quarter of 2012 including milestone payments from Astellas. It received contract revenue of $1.6 million in the first quarter of 2011. Shares of the San Diego, California-based company were trading at $1.85 after the bell. They closed at $2.12 on Monday on the Nasdaq.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions