Biopharma companies have been racing to develop new, effective ways for cannabis patients to take their medicine, from chewing gum to oral dissolving strips.
Zynerba Pharmaceuticals Inc. reported a failed clinical trial for cannabidiol gel in adult epilepsy, which caused its stock to plummet 58.5 percent this week.
The Zynerba trial found that ZYN002 did not demonstrate a statistically significant reduction of focal seizures during the treatment period.
Armando Anido, chief executive officer of Zynerba, said: “We are very disappointed that the STAR 1 trial did not meet its primary endpoint in this patient population. We are continuing to evaluate this study and the ongoing STAR 2 open label study to determine next steps with ZYN002 in adult epilepsy patients with focal seizures.”
Zynerba uses synthetic CBD for STAR 1 instead of the botanical plant based compound. With two products on the market, the company’s stocks took a hit as a result of the failed trial.
While Zynerba’s clinical trial didn’t perform as they’d hoped, other companies are seeing success in developing cannabinoid medications, especially by diversifying their products.
U.K.-based GW Pharmaceuticals, creators of cannabinoid prescription drug Sativex for multiple sclerosis, saw shares surge 2.9 percent this week.
CURE Pharmaceutical’s CureFilm offers new technology that allows multiple active ingredients in one dosage, and allows for safer, more convenient dosing than traditional medicines. Meanwhile. CURE is also researching how cancer responds to cannabinoids.