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Health care stocks continue to lead the U.S. markets higher Tuesday, with the NYSE Health Care Index rising almost 0.7% while shares of health care companies in the SP 500 were up more than 1.1% as a group.
In company news, Zynerba Pharmaceuticals ( ZYNE ) advanced Tuesday after the specialty drug maker today said it has begun Phase II testing of cannabidiol gels as a potential treatment for children with Fragile X syndrome.
The gel is being touted as the first and only patent-protected, synthetic cannabidiol formulated for delivery through the skin. Fragile X syndrome is the most common inherited intellectual disability in males and also is a significant cause of intellectual disability in females.
The U.S. Food and Drug Administration previously designated the gel as an orphan drug to treat the autism-spectrum disorder.
ZYNE shares were up over 14% at $17.83 apiece,