Silver Law Group is investigating Zynerba Pharmaceuticals (ZYNE), a publicly-traded company that is developing cannabinoid therapies for neuropsychiatric disorders, on behalf of investors in the company’s stock.
The investigation regards possible violations of federal securities laws by Zynerba officers and directors.
Zynerba Pharmeceuticals Press Release
On September 18, 2019, Zynerba issued a press release that announced results from its Phase 2 BELIEVE 1 clinical trial evaluating its topical gel Zygel (ZYN002) to treat children and adolescents with developmental and epileptic encephalopathy (DEE).
The release states that the data from the trial show promise for Zygel to treat DEE, however 96% of patients “experienced a treatment emergent adverse event”. Two serious adverse events, lower respiratory tract infection and status epilepticus “were determined to be possibly related to treatment.”
The day of the press release, Zynerba’s stock closed down more than 21%.
Zynerba Public Offerings
Zynerba held its initial public offering in 2015, with Jefferies LLC and Piper Jaffray & Co. as joint book-running managers, and Cannacord Genuity Inc. and Oppenheimer & Co. Inc as co managers for the offering.
In July, 2018, Zynerba raised $32.5 million through a public offering of more than 4 million shares of common stock at $8 per share. Cantor Fitzgerald & Co. was the sole book-running manager for the offering.
The company stated that the net proceeds from the offering would be used to “support the clinical development of ZYN002” and for other purposes.
Recovering Money Lost With Zynerba Pharmeceuticals (ZYNE) Stock
If you suffered losses with Zynerba Pharmaceuticals, we’d like to hear from you. Contact us to discuss your legal rights and potential options to recover your losses.
Silver Law Group represents the interests of investors who have been the victims of investment fraud. Our attorneys represent investors in class actions against issuers in state or federal court and investors in securities arbitration claims against Wall Street firms for stockbroker misconduct. Scott Silver is the chairman of the Securities and Financial Fraud Group of the American Association of Justice and represents investors nationwide in securities investment fraud cases. Please contact Scott Silver of the Silver Law Group for a free consultation at firstname.lastname@example.org or toll free at (800) 975-4345.