Zynerba Shares Cut In Half After Phase 2 Trial Doesn't Meet Primary Endpoint

Zynerba Pharmaceuticals Inc ZYNE shares are trading lower by $8.50, or 56 percent, at $6.50 in Monday's session.

Before the open, the company announced top-line results from Phase 2 Star 1 trial of ZYN002 for treatment of adult epileptic patients with focal seizures didn't meet its primary endpoint.

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After a lower open, Zynerba had a brief bounce to $6.75 before continuing its move lower. So far, the ensuing decline has taken the stock to $5.93, but rebounded back into the mid-$6.00 handle. That low comes in just above March 2015 low ($5.75).

Its all-time low was made the month prior at $4.64.