Zynerba Pharmaceuticals Added to the Russell 3000® Index
June 26 2017 - 7:45AM
Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE), a clinical-stage
specialty pharmaceutical company dedicated to developing and
commercializing innovative transdermal synthetic cannabinoid
treatments, today announced that it has been added to the Russell
3000® Index as part of the FTSE’s annual reconstitution of its
family of U.S. indexes. The addition will take effect after the
U.S. market opens on June 26.
Annual Russell index reconstitution captures the
4,000 largest U.S. stocks as of the end of May, ranking them by
total market capitalization. Membership in the U.S. all-cap Russell
3000® Index, which remains in place for one year, means automatic
inclusion in the large-cap Russell 1000® Index or small-cap Russell
2000® Index as well as the appropriate growth and value style
indexes.
The Russell 2000® Index measures the performance
of the small-cap segment of the U.S. equity universe. The index is
a subset of the Russell 3000® Index and includes approximately
2,000 securities based on a combination of their market cap and
current index membership.
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 tetrahydrocannabinol (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 March 2017, the Company completed
enrollment in the Phase 2 STAR 1 (Synthetic Transdermal Cannabidiol
for the Treatment of Epilepsy) clinical trial of ZYN002 CBD gel in
refractory epilepsy patients with focal seizures, the most common
form of epilepsy in adults. Also in March 2017, the Phase 2 STOP
(Synthetic Transdermal Cannabidiol for the Treatment of Knee Pain
due to Osteoarthritis) clinical trial in patients with knee pain
due to osteoarthritis was fully enrolled. In June 2017, the Company
completed target enrollment in its exploratory Phase 2 FAB-C
(Treatment of Fragile X Syndrome Anxiety and Behavioral Challenges
with CBD) clinical trial in children with Fragile X syndrome.
Zynerba is also developing ZYN001, which utilizes a synthetically
manufactured pro-drug of THC. A Phase 1 clinical study for ZYN001
was initiated in the second quarter of 2017. Learn more at
www.zynerba.com and follow the Company on Twitter at
@ZynerbaPharma.
Cautionary Statement on Forward Looking
StatementsAny statements in this press release about
future expectations, plans and prospects for the Company, including
the Company’s expectations regarding the completion, timing and
size of the option exercise, the Company’s anticipated proceeds
therefrom and other statements containing the words “anticipate,”
“believe,” “estimate,” “upcoming,” “plan,” “target”, “intend,”
“expect” and similar expressions, constitute forward-looking
statements within the meaning of The Private Securities Litigation
Reform Act of 1995. These forward-looking statements are based on
management’s expectations and assumptions as of the date of this
press release and are subject to numerous risks and uncertainties,
which could cause actual results to differ materially from those
expressed or implied by such statements. These risks and
uncertainties include, without limitation, risks and uncertainties
associated with market conditions and the satisfaction of customary
closing conditions related to the proposed offering, as well as
other risks and uncertainties discussed in the Risk Factors set
forth in the Company’s Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q filed with the SEC and in other filings the
Company makes with the SEC from time to time. In addition, the
forward-looking statements included in this press release represent
the Company’s views only as of the date of this press release.
Important factors could cause our actual results to differ
materially from those indicated or implied by forward-looking
statements, and as such we anticipate that subsequent events and
developments will cause our views to change. However, while we may
elect to update these forward-looking statements at some point in
the future, we specifically disclaim any obligation to do so. These
forward-looking statements should not be relied upon as
representing our views as of any date subsequent to the date of
this press release.
Zynerba Contact
William Roberts, Vice President, Investor Relations and Corporate Communications
Zynerba Pharmaceuticals
484.581.7489
robertsw@zynerba.com
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