Shuman, Glenn & Stecker Investigates Zynerba Pharmaceuticals, Inc.
December 09 2020 - 3:49PM
Business Wire
Shuman, Glenn & Stecker announces that it is investigating
potential claims against certain officers and directors of Zynerba
Pharmaceuticals, Inc. (“Zynerba” or the “Company”) (NASDAQ: ZYNE).
Zynerba operates as a clinical stage specialty pharmaceutical
company.
The Firm’s investigation relates to allegations raised in a
securities class action against Zynerba and certain of its senior
officers in the U.S. District Court for the Eastern District of
Pennsylvania. In 2018, Zynerba began a Phase II clinical trial of
Zygel in children and adolescents with developmental and epileptic
encephalopathies (“DEE”). The lawsuit alleges that Zynerba issued a
series of public statements touting Zygel which failed to disclose
that nearly all patients treated with Zygel in the trial suffered
treatment emergent adverse events, including a majority who
suffered treatment related adverse events, and more than 20%
suffered serious adverse events. The lawsuit further alleges that
these events created a risk to Zynerba’s ability to continue
developing Zygel and that Zynerba, which has a history of failed
trials, would fail to secure the necessary regulatory approvals for
commercializing Zygel.
On September 18, 2019, Zynerba announced results from the Zygel
trial and disclosed that 96% of patients treated with Zygel
experienced a treatment emergent adverse event, 60% of patients
experienced a treatment related adverse event, and 10 patients
reported a serious adverse event. On this news, Zynerba’s stock
price fell by nearly 22% to close at $8.84 per share. Zynerba’s
stock price has never recovered and currently trades for less than
$4.50 per share. On November 25, 2020, the federal judge presiding
over the securities class action denied the defendants’ motion to
dismiss the claims, paving the way for the case to proceed towards
trial.
If you currently own Zynerba common stock and are interested in
discussing your rights, or have information relating to this
investigation, please contact Brett Stecker toll free at (866)
569-4531 or email Mr. Stecker at brett@shumanlawfirm.com.
Shuman, Glenn & Stecker represents investors throughout the
nation, concentrating its practice in stockholder litigation.
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version on businesswire.com: https://www.businesswire.com/news/home/20201209005968/en/
SHUMAN, GLENN & STECKER Brett D. Stecker, Esq. 326 West
Lancaster Ave., Suite 110 Ardmore, PA 19003 Tel: 866.569.4531 Fax:
303.536.7849 Email: brett@shumanlawfirm.com Web:
www.shumanlawfirm.com
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