DEVON, Pa., Jan. 19, 2017 (GLOBE NEWSWIRE) — Zynerba Pharmaceuticals, Inc. (ZYNE), a clinical-stage specialty pharmaceutical company dedicated to the development of innovative transdermal synthetic cannabinoid treatments, today announced the pricing of an underwritten public offering of 2.8 million shares of its common stock at a price of $18.00 per share, with expected gross proceeds to Zynerba of $50.4 million. In addition, Zynerba has granted the underwriters a 30-day option to purchase up to 420,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about January 24, 2017, subject to the satisfaction of customary closing conditions.
Jefferies LLC and Piper Jaffray Co. are acting as joint book-running managers. Cantor Fitzgerald Co. is acting as lead manager and Oppenheimer Co. and Roth Capital Partners are