Shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) fell nearly 22% last month, according to data provided by SP Global Market Intelligence. There wasn’t any news specific to Zynerba, but many businesses in the cannabis vertical experienced weakness. That said, the pharmaceutical company has still seen its stock rise 287% since the beginning of the year.
Investors are excited about Zynerba’s cannabidiol (CBD) gel for treating seizures and behavioral symptoms associated with neuropsychiatric disorders such as autism. It expects to report clinical data for four studies in the next 12 months. Will it deliver?
It’s difficult to tell if Zynerba has potential because of the merits of its CBD gel approach to medicine, or if the stock is soaring simply because of its association with the cannabis craze. The next 12 months will prove crucial.
The business reported Q2 2019 results