Zynerba rockets as investors await CEO's presentation at London conference

Shares of Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) soared Wednesday on the back of news that its CEO Armando Anido will present a company overview at the 2019 HC Wainwright Global Life Sciences Conference in the UK this month.

The presentation will take place on April 9 at 12:10 pm at the Grosvenor House in London.

Devon, Pennsylvania-based Zynerba is on track to report top-line results in the second half of the year from Phase 2/3 trials of its Zygel (ZYN002), a CBD gel treatment for children and adolescents with Fragile X syndrome, the most common form of inherited learning disability and attention deficit disorder.

READ: Zynerba’s 4Q shows momentum as it heads into key clinical trial

Enthused by the publicity the London conference will bring, investors sent Zynerba shares up 19.9% to $7.77 in afternoon trade.

Zynerba Pharmaceuticals focuses on treating cannabinoid therapies for rare neuropsychiatric disorders.

The company’s cash and cash equivalent position as of December 31, 2018 was $59.8 million while its research and development expenses for the fourth quarter came in at $4.9 million. 

Management said last month it believes its cash position is “sufficient to fund operations” beyond the potential approval in Fragile X syndrome and “into the first quarter of 2021.”

Contact Ellen Kelleher at [email protected]

Story by ProactiveInvestors