Palm Beach, FL 3/9/12 (StreetBeat) -- Zogenix Inc's (Nasdaq: ZGNX) stock fell 20 percent, making it the top percentage loser on the Nasdaq on Friday, after the specialty pharmaceutical company forecast full-year revenue below analysts' estimates.Zogenix's outlook reflected the recent termination of the Astellas Pharma (4503.T) co-promotion agreement, which accounted for 30 percent of Sumavel DosePro sales in 2011, Leerink Swann analyst Joseph Schwartz wrote in a note to clients.
The company had said it would assume commercialization of its treatment for acute migraine and cluster headache -- Sumavel DosePro -- from the second quarter of 2012, after it ended its partnership with Astellas.
For 2012, Zogenix expects revenue of $45.5 million to $48.5 million, compared with analysts' average estimates of $64.9 million, according to Thomson Reuters I/B/E/S.
Shares of the San Diego, California-based company, which develops drugs for pain and treatment of nervous system disorders, were trading down 15 percent at $2.10 in heavy-volume trade
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