LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz is investigating potential claims against the board of directors of Zynerba Pharmaceuticals (“Zynerba” or the “Company”) (NASDAQ: ZYNE) concerning whether the board breached its fiduciary duties to shareholders.
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On September 18, 2019, Zynerba announced results from its BELIEVE 1 Trial evaluating topical gel Zygel in children and adolescents with Developmental and Epileptic Encephalopathy. While Zynerba asserted that Zygel was well-tolerated, the Company disclosed a 96% rate of treatment emergent adverse events, 60% rate of treatment related adverse events. Zynerba also revealed that, among ten patients who reported serious adverse events, two “(lower respiratory tract infection and status epilepticus) were determined to be possibly related to treatment.”
On this news, Zynerba’s stock price fell $2.46 per share, or 21.77%, to close at $8.84 per share on September 18, 2019.
Our investigation concerns whether the Company’s board of directors breached its fiduciary duties to shareholders and/or grossly mismanaged the Company in connection with the above alleged misconduct.
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If you still hold Zynerba shares purchased before August, 2019 and wish to discuss this matter with us, or have any questions concerning your rights and interests with regards to this matter, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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