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Actionable news in ZYNE: Zynerba Pharmeceuticals Inc,

Jefferies Sees Zynerba Shares More Than Doubling From Here

Zynerba Stock: ZYNE To More Than Double, Says Jefferies

At a recent AES (American Epilepsy Society) event, Zynerba Pharmaceuticals Inc ZYNE 5.24% presented safety data from Phase I studies for ZYN002 CBD gel in healthy volunteers and patients with epilepsy. “We believe the data presented at AES supports the outlook for the PII trial,” Jefferies’ Biren Amin said in a report.

Amin reinstated coverage of the company with a Buy rating and a price target of $32.

ZYN002 At AES

“ZYN002 was well tolerated at all doses and concentrations and comparable to placebo, including the dose intended to be investigated in the PII STAR-1 trial,” Amin wrote.

Zynerba had also observed the neuropsychological effects of ZYN002 in the PI study healthy volunteers and epilepsy patients. “Overall, it was concluded that ZYN002 did not produce impairment in critical areas of cognitive function or any declines in psychological health,” the analyst noted.

Future Developments

Zynerba is continuing the Phase II trial investigating ZYN002 in 180 refractory epilepsy patients. Enrollment is on track and top-line data are expected in the first half of 2017. The data presented at AES are positive for the outlook for the Phase II trial, Amin commented.

The analyst estimated 2030 U.S. sales at $569 million, reflecting refractory epilepsy sales only. The Phase III trial could commence in 2017, and in case the data are positive, the filing could be done in 2018, with an FDA approval and launch expected in 2019.

At last check, Zynerba shares were up 2.32 percent at $13.49.

DateFirmActionFromTo
Dec 2016JefferiesReinstatesBuyBuy
Oct 2016H.C. WainwrightInitiates Coverage onBuy
Mar 2016Roth CapitalInitiates Coverage onBuy

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