The Movement Explained: Zogenix (ZGNX), Wave Systems (WAVX), SouFun Holdings (SFUN)

Albany, New York (10/03/2014) – Zogenix, Inc. (NASDAQ:ZGNX) has moved to end the controversy surrounding its pain management treatment known as Zohydro. The company has submitted for approval of an abuse-deterrent version of the drug, which it hopes will cool the nerves of the anti-addiction advocacy groups and the lawmakers that have persistently attacked Zohydro. ZGNX expects FDA decision on the new drug version to come in 1Q2015. Zohydro was approved last year as a painkiller drug, but has generated more heat than light over claims that it was prone to abuse. Some advocacy groups, and state attorneys general have even taken issues with FDA commissioner, Margaret Hamburg, over the approval of the controversial drug. Some have called for the resignation Hamburg and the withdrawal of Zohydro from the market. However, Zogenix, Inc. (NASDAQ:ZGNX)’s latest move is expected to but the matter of the controversial drug to rest.

Wave Systems Corp. (NASDAQ:WAVX) announced the first sale of its Virtual Smart Card 2.0 software to federal government customer. That marked the first adoption of the software for use in the government sector since its commercial availability in July this year. The company did not name the government customer. Shares of Wave Systems Corp. (NASDAQ:WAVX) surged more than 18% in post-market trading Thursday and have continued to rise today. The company said it has performed pilot deployment of the technology in various sectors including finance, healthcare, automotive and energy. CEO, Bill Solms, said that although the latest deal with the government is “modest” compared to the available opportunity in the federal government sector, it comes as a big boost to their marketing strategy.

Investor confidence in SouFun Holdings Ltd (NYSE:SFUN) appears to be firming up again as the stock of the Chinese online real estate provider continue to gain. Shares of SFUN jumped up more than 5% to $10.28 early Friday. The company recently announced fat incentives to lure homebuyers to boost its business amid a slowdown in the Chinese real estate market. The slowdown also led SFUN to narrow its revenue view for fiscal 2014. It expects revenue in the band of $727-$739 million, down from the original forecast of $780-796 million for the year. Shares of SouFun Holdings Ltd (NYSE:SFUN) have fallen more than 37% so far this year.

About the Author

Barry is a senior journalist at Us Markets Daily. He reports, shoots and edits many of his own stories by himself.

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