Zynerba Pharmaceuticals, Inc.

For the three months ended June 30, 2018, Zynerba reported a net loss of $12 million, or $0.89 per share, versus a net loss of $8.3 million, or $0.64 per share in the same period of 2017. R&D expense rose by $2.8 million to $8.5 million, and G&A expense increased by $0.8 million to $3.4 million. Cash and cash equivalents were $43.1 million at June 30, down $9 million from March 31, and the $30 million of proceeds from the July secondary offering were not included in that balance. Looking ahead, management said the financing extends cash runway into the first half of 2020 and should fund top-line readouts from CONNECT-FX and BELIEVE-1, and potentially an NDA filing for ZYN002 in Fragile X if results and regulatory feedback are supportive.

Armando Anido framed the quarter as a period of meaningful execution across the pipeline, emphasizing that Zynerba is now focused on rare and near-rare neuropsychiatric disorders. He pointed to progress in Fragile X, DEE, and focal seizures, and said the company is “well capitalized” to execute through several milestones over the next 18 months. His tone was confident and upbeat, especially around the FAB-C data and the prospect of filing an NDA if CONNECT-FX succeeds.

Jim Fickenscher emphasized the quarter’s operating burn and the balance sheet. He reported the net loss of $12 million, or $0.89 per share, compared with $8.3 million, or $0.64 per share a year ago, with $1.8 million of non-cash stock-based comp in the quarter versus $1.4 million last year. He also noted higher R&D spend to $8.5 million and G&A to $3.4 million, driven by manufacturing, clinical trial, personnel, and pre-commercialization costs; cash stood at $43.1 million at June 30, before the $30 million July financing.

There was no substantive analyst Q&A on the call; the operator indicated it was quiet, and management moved directly to closing remarks. The main points management reiterated in lieu of questions were the trial timelines, the expectation that CONNECT-FX top-line data will come in the second half of 2019, BELIEVE-1 data in 2019, and the belief that the new capital supports these milestones and a possible Fragile X NDA filing.