Zynerba Pharmaceuticals specializes in developing and commercializing synthetic cannabinoid therapeutics formulated for transdermal delivery. The Devon, Pennsylvania-based company’s Q4/16 financial results disclose a substantial cash kitty of ~$78M available to fund its pipeline of medical marijuana products, ZYN001 and ZYN002.
The pace of investment is heating up for the emerging bull market in cannabinoid products. Zynerba Pharmaceuticals Inc.’s (ZYNE:NASDAQ) share price has doubled from a year ago. The company raised ~$54 million in January, debt-free, a sign of confidence in its potential. Top flight medical industry analysts are targeting Zynerba stock to double again in the wake of the company’s successful year.
Zynerba’s transdermal drugs are cannabinoid therapeutics for treating refractory epilepsy, Fragile X syndrome (FXS), osteoarthritis (OA), fibromyalgia and peripheral neuropathic pain—all diseases that have no known cures.
Armando Anido, chairman and CEO of Zynerba Pharmaceuticals, told investors at the end