In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) reported that Genesis Capital Advisors Llc. has picked up 556,571 of common stock as of 2017-02-15.
The acquisition brings the aggregate amount owned by Genesis Capital Advisors Llc. to a total of 556,571 representing a 5.6% stake in the company.
For those not familiar with the company, Zynerba Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on developing and commercializing synthetic cannabinoid therapeutics formulated for transdermal delivery. The Company is evaluating approximately two product candidates, ZYN002 and ZYN001, in over five indications. The Company intends to study ZYN002 in patients with refractory epilepsy, osteoarthritis and Fragile X syndrome. The Company’s ZYN002 is synthetic cannabidiol (CBD) formulated as a permeation-enhanced gel for transdermal delivery. ZYN002 is being developed as a clear that is designed to provide controlled drug delivery with once- or twice-daily dosing. ZYN001 is a pro-drug of tetrahydrocannabinol (THC) that enables transdermal delivery through a patch. The Company intends to test the ZYN001 patch for application to the arm, back and thigh. The Company intends to study ZYN001 in patients with fibromyalgia and peripheral neuropathic pain.
A glance at Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE)’s key stats reveals a current market capitalization of 306.40 million based on 12.79 million shares outstanding and a price at last close of $22.74 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-12-29, Rapp picked up 10,000 at a purchase price of $15.85. This brings their total holding to 1,354,115 as of the date of the filing.
On the sell side, the most recent transaction saw Hanlon unload 3,000 shares at a sale price of $10.53. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) as things move forward to see if its progress aligns with these transactions.
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