Zynerba Pharma (ZYNE): Reiterating Overweight After Earnings and Ahead of Potential Catalysts - Piper Jaffray
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Piper Jaffray analyst, Charles Duncan, reiterated his Overweight rating on shares of Zynerba Pharmaceuticals (NASDAQ: ZYNE) in advance of anticipated 2H16 program progress, and trial starts to enable 1H17 clinical-stage data on ZYN-002 and ZYN-001.
On 8/11, ZYNE reported 2Q16 earnings, ending the quarter with $32.1M in cash. The analyst projects current cash can fund operations through mid’17, inclusive of Phase II results from the now enrolling STAR 1 study in adult epilepsy, as well as results from planned studies in OA and FX. The analyst is supportive of STAR 1 and believes a CBD transdermal has potential to provide significant clinical benefit in terms of seizure reduction combined with a convenient formulation and a low-burden side effect profile.
That said, he is also intrigued by less conventional indications for CBD, such as FX, and will look for trial design details and POC data in the next 12 months to shape his view on broad applicability of this platform. In advance of anticipated 2H16 program progress, and trial starts, to enable 1H17 clinical-stage data on ZYN-002 and ZYN-001.
No change to the price target of $42.
Shares of Zynerba Pharmaceuticals closed at $9.91 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesPiper Jaffray, Earnings, Charles Duncan
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