Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) announced Tuesday that the US Patent and Trademark Office has issued a new patent to the company for its transdermal cannabinoid treatment for patients suffering Fragile X syndrome, the most common form of inherited learning disability and attention deficit disorder.
Interestingly, the company’s flagship product ZYN002 is a synthetic cannabidiol (CBD), which is a non-psychoactive cannabinoid, formulated as a patent-protected permeation-enhanced gel for transdermal delivery through the skin and into the circulatory system.
The newly granted US patent No 10,213,390, titled “Treatment of Fragile X Syndrome with Cannabidiol,” includes claims directed at methods of treating Fragile X syndrome by administering “a therapeutically effective amount of synthetic or purified cannabidiol.”
Shares jumped nearly 17% to $5.88 in pre-market trading on heavy volume.
READ: Zynerba Pharmaceuticals’ quest for CBD gel to treat Fragile X syndrome ventures where big pharma fears to tread
The new patent which expires in 2038, is part of an expanding intellectual property portfolio covering the company's ZYN002 CBD gel.
The new patent comes at an auspicious time as enrollment speeds up in the CONNECT-FX clinical trial, which is a pivotal, multinational, randomized, double blind, placebo-controlled study evaluating the potential and safety of ZYN002.
Clinical investigative sites are enrolling patients in the United States, Australia, and New Zealand. Patients who have completed the double-blind phase are now enrolling into the 12-month open label phase.
The Devon, Pennsylvania-based Zynerba is on track to reporting topline results from the tests of its cannabidiol gel treatment for children and adolescents, aged three to 17, with Fragile X syndrome the second half of 2019.
Fragile X is also the most commonly known single gene cause of autism spectrum disorder.
The company could be filing a New Drug Application for ZYN002 in the first half of 2020 for Fragile X Syndrome.
Zynerba is working on designing cannabis-derived treatments that can help patients suffering from rare epilepsies and neurological disorders.
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