Synthetic Cannabinoid Drug Maker Zynerba Plummets 50%

Zynerba Pharmaceuticals Inc (NASDAQ: ZYNE) shares retreated to their lowest level since early April following a clinical readout from the company.

What Happened: The Devon, Pennsylvania-based pharma that focuses on developing cannabinoid therapies for rare and near-rare neuropsychiatric disorders said its Zygel did not meet the primary and secondary endpoints of a pivotal study dubbed CONNECT-FX that evaluated the safety and efficacy of the pipeline asset in Fragile X syndrome patients.

Fragile X syndrome is a rare genetic …

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