Item 1.02 Termination of a Material Definitive Agreement

Effective August 1, 2012, Zalicus Inc. (the "Company") terminated its equity distribution agreement (the "Agreement") with Wedbush Securities Inc. ("Wedbush") dated as of June 19, 2012. As previously reported, pursuant to the terms of the Agreement, the Company could offer and sell shares of its common stock, $0.001 par value per share (the "Common Stock"), having an aggregate offering price of up to $15.0 million from time to time to or through Wedbush. Through August 1, 2012, the Company had sold an aggregate of 13,091,957 shares of Common Stock pursuant to the Agreement for aggregate gross proceeds of approximately $15.0 million. Aggregate commissions paid to Wedbush pursuant to the Agreement were approximately $300,000.

Further details regarding the terms of the Agreement are set forth in the Company's Current Report on Form 8-K dated June 19, 2012, which is incorporated herein by reference.

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