Zynerba Pharma (ZYNE) Tops Q4 EPS by 4c

Zynerba Pharma (NASDAQ: ZYNE) reported Q4 EPS of ($0.71), $0.04 better than the analyst estimate of ($0.75).

2017 Financial Outlook

In the first quarter of 2017, the Company completed a follow-on public offering, selling 3,220,000 shares of our common stock at an offering price of $18.00 per share, resulting in gross proceeds of $58.0 million. Net proceeds received after deducting underwriting and commissions and offering expenses were $54.3 million. Based on Zynerba’s cash position of $31.0 million in cash and cash equivalents at year-end 2016, and including proceeds from the Company’s follow-on public offering in the first quarter of 2017, the Company estimates that this balance is sufficient to develop five Phase 3 ready programs and, assuming feedback from the FDA supports a decision to move forward, initiate at least one Phase 3 program and fund operations and capital requirements into 2019

For earnings history and earnings-related data on Zynerba Pharma (ZYNE) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Edible Garden AG (EDBL) Reports Q2 Loss of $18.79
• Algorhythm Holdings (RIME) Tops Q2 EPS by 54c