Zynerba Pharmaceuticals has Further Upside
Zynerba Pharmaceuticals, Inc. engages in the research and development of drugs. The company’s clinical programs include: patch and gel for transdermal delivery and synthetic cannabinoid therapeutics. It is is headquartered in Devon, PA and was established on January 31, 2007.
The company’s stock currently trades around $10.5 a share with a 52-week range of $4.64 a share to $23 a share. It has market capitalization of $94 million, while daily volume is around 74,121 shares. Its outstanding shares are standing around 8,733,963.
Zynerba as of late reported solid results for the second quarter of 2015. Amid the second quarter, Zynerba accomplished a few clinical turning points and reinforced the association. The company accomplished a huge breakthrough with its lead improvement compound, ZYN002, including start of a Phase 2 clinical study in epilepsy patients.
It is additionally satisfied to welcome two new options to its official administration group. Jim Fickenscher, who will go along with the company on September 13, is a prepared official in the pharmaceutical business who has been the CFO for other biopharmaceutical organizations, including Auxilium. He brings an abundance of monetary and corporate advancement experience. The company additionally welcomes Dr. Nancy Tich, who went along with the company in June.
Aside from management changes, the company also looks in a strong cash position to support its investment in growth opportunities.
At the end of second quarter, cash and cash equivalents stood around $32.1 million, compared with the same period of last year.
The company’s research and development expenses for stood around $4.8 million, including stock-based compensation of $0.4 million. The company’s net loss for the second quarter of 2016 was standing around $6.2 million with net loss of $0.70 per share.