Zynerba Pharmaceuticals Reports Inducement Grant to New Chief Financial Officer
September 13 2016 - 4:05PM
Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE), a clinical-stage
specialty pharmaceutical company dedicated to the development of
innovative transdermal synthetic cannabinoid treatments, today
announced that the Company’s Board of Directors granted James
Fickenscher, the Company’s newly appointed Chief Financial Officer
and Vice President, Corporate Development, an option to purchase
150,000 shares of the Company’s common stock as an inducement
material to his acceptance of employment with the Company in
accordance with NASDAQ Listing Rule 5635(c)(4). The option
will have an exercise price equal to the closing price of Zynerba
Pharmaceuticals’ common stock on September 13, 2016. The
option will vest 25% on the first anniversary of the date of the
grant, with the remainder vesting in 12 equal quarterly
installments thereafter, subject to Mr. Fickenscher’s continued
service with the Company through the applicable vesting dates.
About Zynerba Pharmaceuticals, Inc. Zynerba
Pharmaceuticals (NASDAQ:ZYNE) is a clinical-stage specialty
pharmaceutical company focused on developing and commercializing
proprietary next-generation synthetic cannabinoid therapeutics
formulated for transdermal delivery. Zynerba is developing
therapeutic candidates based on proprietary transdermal
technologies that, if successfully developed, may allow sustained,
consistent and controlled delivery of therapeutic levels of two
cannabinoids: cannabidiol (CBD), a non-psychoactive cannabinoid,
and THC. Transdermal delivery has the potential to reduce adverse
effects associated with oral dosing. ZYN002, the Company’s CBD gel,
is the first and only synthetic CBD formulated as a patent
protected permeation-enhanced gel. In June 2016, the company
initiated the Phase 2 STAR 1 clinical study of ZYN002 CBD gel in
refractory epilepsy patients with focal seizures. In August, it
initiated the Phase 2 STOP clinical trial in patients with knee
pain associated with osteoarthritis. A Phase 2 clinical program for
Fragile X syndrome (FXS) is expected to initiate in the second half
of 2016. Zynerba is also developing ZYN001, which utilizes a
synthetically manufactured pro-drug of THC. A Phase 1 clinical
study for ZYN001 is planned to begin in the second half of 2016.
Learn more at www.zynerba.com and follow the Company on Twitter at
@ZynerbaPharma.
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995. We
may, in some cases, use terms such as “predicts,” “believes,”
“potential,” “proposed,” “continue,” “estimates,” “anticipates,”
“expects,” “plans,” “intends,” “may,” “could,” “might,” “will,”
“should” or other words that convey uncertainty of future events or
outcomes to identify these forward-looking statements. Such
statements are subject to numerous important factors, risks and
uncertainties that may cause actual events or results to differ
materially from the Company’s current expectations. For example,
there can be no guarantee that the Company will obtain approval for
ZYN002 or ZYN001 from the U.S. Food and Drug
Administration (FDA) or foreign regulatory authorities; even
if ZYN002 or ZYN001 are approved, the Company may not be able to
obtain the label claims that it is seeking from the FDA.
Management’s expectations and, therefore, any forward-looking
statements in this press release could also be affected by risks
and uncertainties relating to a number of other factors, including
the following: the success, cost and timing of the Company’s
product development activities, studies and clinical trials; the
success of competing products that are or become available; the
Company’s ability to commercialize its product candidates; the size
and growth potential of the markets for the Company’s product
candidates, and the Company’s ability to service those markets; the
Company’s ability to develop sales and marketing capabilities,
whether alone or with potential future collaborators; the rate and
degree of market acceptance of the Company’s product candidates;
and the Company’s expectations regarding its ability to obtain and
adequately maintain sufficient intellectual property protection for
its product candidates. These and other risks are described in the
Company’s periodic reports, including the annual report on Form
10K, quarterly reports on Form 10Q and current reports on Form 8-K,
filed with or furnished to the Securities and Exchange
Commission and available at www.sec.gov. Any
forward-looking statements that the Company makes in this press
release speak only as of the date of this press release. The
Company assumes no obligation to update forward-looking statements
whether as a result of new information, future events or otherwise,
after the date of this press release.
Investor Contact
Kimberly Minarovich
Argot Partners
212.600.1902
kimberly@argotpartners.com
Media Contact
Eliza Schleifstein
Argot Partners
973.361.1546
eliza@argotpartners.com
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