Zynerba: Down after FDA recommends additional trial of neurological disorder drug

Zynerba Pharmaceuticals

17/12/2020 13:17

** Shares of drug developer  ZYNE.O  falls 7.8% to $3.9
premarket
    ** U.S. FDA recommends co to redo late-stage trial of its
experimental cannabinoid gel, Zygel, in neurological disorder
Fragile X syndrome patients  urn:newsml:reuters.com:*:nGNX1q3mV7    
    ** Co to conduct the new trial in a subgroup that showed
efficacy in an earlier Phase III trial  urn:newsml:reuters.com:*:nL4N2E7352
    ** ZYNE says it will review trial design for new trial in H1
2021, and expects to initiate it before end of next year
    ** The syndrome is a rare genetic developmental disability
and the leading known cause of both inherited intellectual
disability and autism spectrum disorder
    ** Needham & Co analyst Serge Belanger says its a setback to
the company in terms of timelines for potential FDA approval;
expects approval in 2024 at the earliest 
    ** Up to Wednesday's close, stock fell ~31% YTD

 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com;))