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Tag: Zynerba Pharmaceuticals

  • Why The Zynerba Pharmaceuticals (ZYNE) is Skyrocketing Today?

    Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE) has soared vigorously in today’s market scenario, registering a notable ascension of 279.06% and reaching $1.28 today as per the most recent observations. The prior trading session, that is, Friday, witnessed the stabilization of Zynerba’s stock, demonstrating a modest uptick of 0.89% to culminate the day’s trade at $0.3390. This remarkable surge in ZYNE’s valuation can be attributed to a compelling takeover proposition that has materialized.

    Harmony Biosciences (Nasdaq: HRMY) has officially unveiled a definitive agreement, unveiling its strategic intent to acquire Zynerba Pharmaceuticals (ZYNE), a pharmaceutical entity specializing in rare neuropsychiatric ailments, prominently including Fragile X syndrome (FXS). Per the meticulously outlined stipulations within the definitive agreement, Harmony Biosciences will embark upon a decisive tender offer, poised to procure all outstanding shares of Zynerba at a stipulated purchase price of $1.1059 per share in hard currency.

    Alternatively, this amounts to an aggregate of $60 million, augmented by the inclusion of an exceptional non-negotiable contingent value right (CVR) appended to each share. Notably, this CVR extends the right to potential supplementary disbursements, capping at an aggregate sum of $140 million, subject to the achievement of specific clinical, regulatory, and commercial benchmarks.

    Elaborating upon the discrete milestones tethered to this acquisition framework:

    Clinical Attainments

    Successful culmination of FXS Phase 3 clinical trial: Yields an aggregate sum of $15 million or approximately $0.2747 per share.

    Positive data readout stemming from FXS Phase 3 clinical trial:

    • If realized by or on December 31, 2024: $30 million in total, equating to around $0.5494 per share.
    • If actualized prior to June 30, 2025: A total of $20 million, corresponding to approximately $0.3663 per share.
    • Post-June 30, 2025 accomplishment: Sum of $10 million, approximating $0.1831 per share.

    Regulatory Landmarks

    • Obtaining FDA endorsement for FXS: Sums up to $35 million in total or roughly $0.6389 per share.
    • Securing FDA approval for a Secondary Indication: Yields $15 million in aggregate, approximately $0.2707 per share.

    Net Sales Benchmarks

    • Reaching $250 million in aggregate Net Sales: Results in a total of $15 million or roughly $0.2702 per share.
    • Achieving $500 million in cumulative Net Sales: Translates to an aggregate sum of $30 million, approximating $0.5405 per share.

    Anticipated to conclude in the fourth quarter of 2023, this transaction hinges on customary closure prerequisites. Among these, a crucial condition involves the tendering of a majority of Zynerba’s outstanding shares by its stockholders to Harmony in conjunction with the tender offer. Subsequent to a triumphant tender offer culmination, Harmony Biosciences will finalize the acquisition of remaining Zynerba shares via a second-step merger at the same unit price specified in the initial tender offer. Zynerba’s board of directors, with unanimous consensus, urges its shareholders to participate in this tender offer.

  • Zynerba Pharmaceuticals Inc. (ZYNE) Stock Falls Deep Pre Market. Any Reason?

    Zynerba Pharmaceuticals Inc. (ZYNE) Stock Falls Deep Pre Market. Any Reason?

    On January 27, Zynerba Pharmaceuticals Inc. (ZYNE) stock suffered a further loss of 5.83% in the pre-market. There has been no recent announcement from the company.

    In the prior trading session, the stock remained gloomy with a slight loss of 0.41% at $2.40. This decline escalated in the pre market, making the stock go down to $2.26 per share.

    The pharmaceutically-produced transdermal cannabinoid therapies provider, Zynerba Pharmaceuticals Inc. has a market capitalization of $99.33 million. Currently, the company has 41.22 million shares outstanding in the market.

    ZYNE stock Movement

    While there is no recent announcement, SEC filing, or upcoming event, ZYNE saw some gains at an active volume on Monday and Tuesday. It seems like the stock underwent a profit booking event the next day due to the gains. The stock has since continued its bearishness which then intensified in the pre-market on Friday. Given that there is no official reason, the stock might be moving on external factors like social media discussions.

    Presently, ZYNE stands at a year-to-date loss of 16.67% while it suffered from a decline of 32.20% last year.

    Recent Participation

    Recently, the company participated in the H.C. Wainwright BioConnect Conference which took place from January 10 to 13, 2022. Armando Anido, ZYNE’s Chairman and Chief Executive Officer, presented at the conference virtually.

    ZYNE’s Clinical Development Updates

    On January 4, the company declared updates regarding its clinical development of ZygelTM. Zygel, the company’s experimental treatment, is a non-euphoric cannabinoid under development for multiple disorders.

    As per the latest updates, ZYNE has decided against the development of Zygel in developmental and epileptic encephalopathies (DEE). The decision was based on the company’s research and strategic prioritization along with feedback from the FDA.

    Furthermore, the company will focus on the development of Zygel in FXS (Fragile X syndrome), ASD (autism spectrum syndrome), and 22q (22q11.2 deletion syndrome). The ASD Phase 3 trial is expected to commence in the second half of 2022, while topline data from FXS in the second half of 2023. Additionally, the topline data from the ongoing trial in 22q is anticipated in mid-2022.

    Financial Highlights

    On November 15, the company announced its financial results for the third quarter of 2021.

    In Q3 of 2021, ZYNE incurred a net loss of $10.6 million or $0.26 per basic and diluted share.

    In addition, the company ended the quarter with cash and cash equivalents of $75.6 million.