News that Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) has received a key patent from the U.S. Patent and Trademark Office lifted its shares on Tuesday.
Specifically, the firm was issued a patent titled “Treatment of Fragile X Syndrome with Cannabidiol,” which includes claims directed to methods of treating Fragile X Syndrome (FXS) by administering a therapeutically effective amount of synthetic or purified cannabidiol (CBD).
This new patent, which expires in 2038, is part of an expanding intellectual property portfolio covering the firm’s CBD product candidate, ZYN002 Transdermal CBD gel.
The issuance of this patent comes as enrollment progresses in CONNECT-FX, a pivotal, multinational, randomized, double-blind, placebo-controlled study evaluating the efficacy and safety of ZYN002 in three- through 17-year-old FXS patients with full mutation of the FMR1 gene.
The primary endpoint is the change from baseline to the end of the treatment period in the Aberrant Behavior Checklist-Community FXS Specific (ABC-CFXS) Social Avoidance subscale. Clinical investigative sites are enrolling patients in the United States, Australia and New Zealand. Patients who have completed the double-blind phase are now enrolling into the 12-month open-label phase.
Zynerba expects to report top-line data in the second half of 2019.
Excluding Tuesday’s move, Zynerba had outperformed the broad markets, with its stock up about 70% year to date. In the past 52 weeks, the stock actually is down 53%.
Shares of Zynerba were last seen up about 11% at $5.58, in a 52-week range of $2.75 to $12.50. The consensus price target is $16.40.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.