Zynerba’s cannabis-based gel meets main goal in mid-stage study

(Reuters) – Zynerba Pharmaceuticals Inc said on Thursday its cannabis-based gel achieved the main goal in a mid-stage study of patients with Fragile X syndrome, a genetic disorder that causes learning disabilities.

The U.S. drug developer’s shares rose nearly 90 percent to $11.70 in premarket trading.

Zynerba said its gel, ZYN002, achieved the main goal of the study by improving the total score on a scale assessing anxiety, depression and other symptoms associated with Fragile X in adolescents and children.

The company said it expects to meet with the U.S. Food and Drug Administration in the first half of 2018 as it seeks to conduct another key, mid-stage study.

Zynerba’s shares had fallen about 50 percent last month after ZYN002 failed a mid-stage study that tested the drug in epilepsy patients.