Zynerba delays data from genetic disorder drug study on enrollment challenge

Zynerba Pharmaceuticals

21/12/2022 12:38

** Shares of drug developer Zynerba Pharmaceuticals Inc
 ZYNE.O  down ~11% at $0.51 premarket
    ** Company says it is delaying timeline for reporting data
from late-stage study of its experimental drug for genetic
disorder due to difficulties in enrolling patients 
    ** ZYNE now expects to post results from trial in H1 of 2024
vs H2 of 2023
    ** Rise in RSV (respiratory syncytial virus), influenza and
continued impact of COVID-19 lead to higher-than-expected
cancellations of initial screenings, resulting in slower than
anticipated enrollment, Zynerba says
    ** RSV is a common respiratory virus that usually causes
mild, cold-like symptoms
    ** Cash runway extended to mid-year 2024 due to
prioritization of resources on completion of study, company says
    ** As of Tuesday's close, stock down 80.2% YTD
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com))