Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) said Monday that it saw “clinical momentum” in the fourth quarter as it posted financial results that showed it has $59.8 million to fund clinical trials for its cannabis-derived treatments.
Devon, Pennsylvania-based Zynerba is on track to report top-line results from tests of its Zygel, a CBD gel treatment for children and adolescents with Fragile X syndrome, the most common form of inherited learning disability and attention deficit disorder.
Zygel was previously referred to as ZYN002, a synthetic cannabidiol, which is a non-psychoactive cannabinoid, formulated as a patent-protected permeation-enhanced gel for transdermal delivery through the skin and into the circulatory system. The company has now selected Zygel as the new brand name for ZYN002.
READ: Zynerba Pharmaceuticals’ quest for CBD gel to treat Fragile X syndrome ventures where big pharma fears to tread
“The fourth quarter of 2018 was a period of strong clinical and corporate