Zynerba (NASDAQ: ZYNE) is pioneering the development of patent-protected, next-generation synthetic cannabinoid therapeutics formulated for transdermal delivery. Its two lead product candidates in development include ZYN002 and ZYN001, which are being evaluated in five indications. ZYN002 is the first and only synthetic Cannabidiol (CBD) formulated as a permeation-enhanced gel for transdermal delivery. In June 2016, the company initiated the STAR 1 Phase 2 clinical study in refractory epilepsy patients. Dosing of first patients in the Phase 2 STAR 1 study in refractory epilepsy was announced in August of 2016. Phase 2 studies are planned in osteoarthritis and Fragile X syndrome in the second half of 2016. ZYN001, a prodrug of THC that enables transdermal delivery through the skin and circulatory system via a patch, is in preclinical development. A Phase 1 study is planned in the second half of 2016.
In August 2015, Zynerba completed an initial public offering, raising net proceeds of $42.1 million. As of June 30, 2016, cash and cash equivalents totaled $32.1 million, which is projected to fund five Phase 2 clinical studies through 2017.