Why Zynerba Pharmaceuticals Stock Is Crashing Today
Shares of Zynerba Pharmaceuticals (NASDAQ: ZYNE) were crashing 18.3% lower as of 10:48 a.m. EDT on Wednesday after falling as much as 26.5% earlier in the morning. The big plunge came after Zynerba announced results from a phase 2 clinical study evaluating cannabinoid gel Zygel in treating children and adolescents with developmental and epileptic encephalopathy (DEE), a group of epilepsy syndromes linked with severe cognitive impairment and behavioral disturbances.
CEO Armando Anido said that the company is "encouraged by the positive top-line results" of the Believe 1 phase 2 study of Zygel in DEE. How could the results be "positive" and Zynerba's shares fall so hard? It boils down to which part of the results receive the most attention.
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Source Fool.com
