(Reuters) – Zynerba Pharmaceuticals Inc said on Thursday its cannabis-derived gel to treat genetic disorder Fragile X syndrome succeeded in significantly reducing symptoms such as anxiety in a mid-stage study.
The U.S. drug developer’s shares – down 60 percent since the beginning of the year – were up 57 percent at $9.72 in morning trading.
Zynerba’s drug achieved the study’s main goal by improving scores on a scale assessing anxiety, depression and other behavioral symptoms associated with Fragile X syndrome in children and adolescents, the company said.
Fragile X, an autism-spectrum disorder, affects 1 in 4,000 males and 1 in 8,000 females and has no approved treatment.
Zynerba’s drug also improved aberrant behaviors associated with the disorder, such as temper tantrums, social avoidance and hyperactivity, the company said.
Analysts were largely upbeat about the trial results, but also highlighted that the number of patients in the study was small.