Zynerba Pharmaceuticals (ZYNE) shares skyrocketed last week as the company announced positive top-line data from a Phase 2 exploratory study. The top-line data was for Zynerba’s ZYN002, a transdermal cannabidiol gel, for the treatment of fragile X syndrome in pediatric patients. This is Zynerba’s 3rd press release regarding ZYN002 clinical trial results in the past two months. The previous two press releases (August 7th and 14th) regarding results were largely negative and sent the stock spiraling. This article will focus on the ZYN002 results made public in the last few months, and why I believe this stock is currently a pass.
ZYN002 is a transdermal synthetic cannabidiol treatment which was originally going through clinical trials for 3 indications – refractory epileptic focal seizures, osteoarthritis, and pediatric patients with fragile X syndrome (NYSEARCA:FXS). Phase 2 clinical
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