Zynerba was expected to release phase 2 STAR 1 trial data of its ZYN002 for the treatment of adult epilepsy by the end of July, but the company confirmed Tuesday that the data is on its way, H.C. Wainwright's Corey Davis, Ph.D., commented in a research report in which he maintains a Buy rating and $30 price target on Zynerba's stock. As such, the data is now expected to come by the end of next week and has a "reasonable chance" of meeting the primary endpoint of median reduction in seizure frequency over a 28-day period.
"It is worth stressing that even if ZYN002 does not outperform placebo by the ~20% delta needed to hit stat. sig., the number of patients who achieve seizure-free status (a secondary endpoint) could be just as, if not more, important," the analyst added.
Davis recalled an expert conversation he had with David Anschel who stressed that a seizure-free rate of around 10 percent would be "perhaps even more meaningful" than a 20 to 30 percent reduction in frequency.
In fact, most patients would be willing to give ZYN002 a try even if it comes with a success rate of just 5 to 10 percent of being completely seizure free.
Beyond epilepsy, Zynerba will report results from its phase 2 STOP trial in osteoarthritis patients by the end of August and data from the exploratory phase 2 of ZYN002 in pediatric Fragile-X syndrome patients are expected in September.
Also, phase 1 trial of ZYN001 (a THC pro-drug patch) should be released in the third quarter as well and a phase 2 trial for the drug in fibromyalgia and neuropathic pain are expected in begin in the fourth quarter.
At time of publication, shares of Zynerba were up 3.65 percent at $14.61.
Related Links:© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.