Up in Smoke: Zynerba Pharmaceuticals Lost More Than Half Its Value

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Up in Smoke: Zynerba Pharmaceuticals Lost More Than Half Its Value

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Clinical-stage cannabinoid-based drug developer Zynerba Pharmaceuticals (NASDAQ:ZYNE) had been one of the strongest-performing pot stocks over the trailing year prior to the start of this past week. However, its stock lost more than half its value (53%) on Monday, Aug. 7, after it announced top-line results from its phase 2 study involving investigative drug candidate ZYN002 in adult epilepsy patients with focal seizures.

The study, known as Star 1, examined ZYN002 as a transdermal cannabidiol (CBD)-based gel for epileptic patients versus a placebo.

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