Zynerba Pharmaceuticals Inc. reported a failed clinical trial for cannabidiol gel in adult epilepsy, which caused its stock to plummet 58.5 percent this week.
The Zynerba trial found that ZYN002 did not demonstrate a statistically significant reduction of focal seizures during the treatment period.
Armando Anido, chief executive officer of Zynerba, said: “We are very disappointed that the STAR 1 trial did not meet its primary endpoint in this patient population. We are continuing to evaluate this study and the ongoing STAR 2 open label study to determine next steps with ZYN002 in adult epilepsy patients with focal seizures.”
Zynerba uses synthetic CBD for STAR 1 instead of the botanical plant based compound. With two products on the market, the company’s stocks took a hit as a result of the failed trial.
While Zynerba’s clinical trial didn’t perform as they’d hoped, other companies are seeing success in developing cannabinoid medications,