$ZYNE No Reefer Madness Here: 5 Cannabis-Focused Stocks For

The 420 Trader Founded in 2007 and based in Devon, Pennsylvania, this specialty pharmaceutical company is seeking to develop the CBD gel Zygel for transdermal cannabinoid therapies in neuropsychiatric disorders including Fragile X syndrome (FXS), Autism Spectrum Disorder and 22q deletion syndrome. The company is conducting clinical trials on Zygel in the U.S. and Australia. Chairman and CEO Armando Anido said the company expects “to make significant progress in 2021.” However, the company has not pinpointed an expected timeline on when Zygel might be available commercially. For 2020, Zynerba’s research and development expenses totaled $35.7, including stock-based compensation of $2.2 million. General and administrative expenses were $16.4 million, including stock-based compensation expense of $3 million. The company closed the year with a $51.3 million net loss, with basic and diluted net loss per share of $1.90. Nonetheless, the company is not running on empty. In its most recent earnings report, Zynerba stated its it has sufficient cash and cash equivalents to fund operations and capital requirements into the first half of 2024. “We believe that Zygel has the potential to meaningfully relieve the behavioral symptoms of the most impacted individuals with Fragile X syndrome,” said Anido. chairman and CEO of Zynerba. “We are thankful for our ongoing constructive dialogue with the FDA on our path forward to new drug application submission.” Zynerba trades around $3.76, some distance from its 52-week high of $9.00 and closer to its 52-week low of $3.12.