Zynerba (ZYNE) Reports Solid Clinical Progress & Controlled Spending During Q1 2016
Ryan Allway
May 12th, 2016
News, Top Story
[stockchart symbol=ZYNE]
Zynerba Pharmaceuticals Inc. [stockquote symbol=ZYNE] (Free Trend Analysis), a specialty pharmaceutical company dedicated to the development of innovative transdermal synthetic cannabinoid treatments, recently reported solid progress in its first quarter financial results.
The company reported positive initial results from its Phase I single rising dose trial and initiated a Phase I multiple rising dose trial of its ZYN002 gel earlier this year. In addition, it secured an orphan drug designation for Fragile X syndrome in February, which could simplify its go-to-market strategy. And in April, the company published data demonstrating that the oral administration of some cannabinoids could increase psychoactivity.
“We continue to make rapid progress in our ZYN002 cannabidiol (CBD) gel clinical development program with positive initial results reported in a Phase 1 single rising dose trial, the initiation of a second Phase 1 trial in healthy volunteers and patients with epilepsy, and a grant of orphan drug designation from the US Food and Drug Administration for the treatment of Fragile X syndrome,” said Armando Anido, Chairman and CEO of Zynerba Pharmaceuticals.
“Further, important in vitro data were published in Cannabis and Cannabinoid Research demonstrating that orally administered CBD is converted into psychoactive cannabinoids when exposed to gastric fluid. Zynerba’s transdermal delivery of CBD bypasses the acidic environment of the stomach and thus, avoids the potential for formation of psychoactive cannabinoids. These data support the Company’s strategy of pursuing a transdermal delivery and we are on pace to initiate Phase 2 clinical trials in three indications in the second half of this year.”
By the end of next quarter, the company anticipates reporting final results from its single dose trial as well as results from its multiple dose trial. Management expects to initiate a Phase II clinical trial in refractory epilepsy, osteoarthritis, and FXS during the second half of the year if the Phase I clinical trials perform as they’re expected to perform.
The company also noted that its existing cash and cash equivalents will fund its R&D programs and operations throughout 2017, which includes a Phase II data readout for five indications of ZYN002 and ZYN001. For investors, this translates to limited dilution and greater shareholder value preservation as key catalysts could potentially hit the market.
For more information, investors can view the company’s investor presentation on their website.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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