Zynerba shares slide 17% after trial of cannabis-based skin patch fails to meet goals

Shares of Zynerba Pharmaceuticals Inc.

ZYNE, +3.64%

slid about 17% in premarket trade Thursday, after the company said an early-stage trial of a cannabinoid skin patch failed to meet its main goals. The company, which is developing cannabis-based therapies for rare neruospsychiatric disorders, said the trial of ZYN001, a patent-protected, pro-drug of tetrahydrocannabinol (THC) delivered via a transdermal patch, in healthy volunteers, did not achieve its goal of target blood levels of 5 to 14 ng/ml

... read more at: https://www.marketwatch.com/story/zynerba-shares-slide-17-after-trial-of-cannabis-based-skin-patch-fails-to-meet-goals-2018-07-05