Health and Healthcare

Meet Zynerba's Newest Patent

Dmitry_Tishchenko / Getty Images

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.

The #1 Thing to Do Before You Claim Social Security (Sponsor)

Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.

A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.

Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.

 

Have questions about retirement or personal finance? Email us at [email protected]!

By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.

By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.