Zynerba goes into meltdown mode as cannabis-derived drug flops in PhII
Two years after its IPO, Devon, PA-based Zynerba Pharmaceuticals $ZYNE is grappling with the fallout from a failed Phase II study of its lead drug — a cannabis-derived therapy delivered via a skin patch.
Researchers failed to find a real benefit for epilepsy patients in the trial, missing on two doses in an attempt to reduce focal seizures over a placebo.
The biotech’s shares were blitzed by the immediate response from investors, who drove the company’s shares down 63%.
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