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 trial in refractory epilepsy patients; in August 2016, initiated the STOP Phase 2 clinical trial in patients with osteoarthritis of the knee; and in December 2016, initiated the FAB-C exploratory. Phase 2 clinical trial in patients with Fragile X syndrome.
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 clinical trial is planned in the first half of 2017.
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 trials through 2017.