Zynerba Pharmaceuticals (NASDAQ:ZYNE) chief financial officer and vice president for corporate development Jim Fickenscher says an equity purchase agreement for up to $20 million with Lincoln Park Capital Fund will provide financial flexibility as the company advances clinical development efforts with Zygel in Fragile X syndrome and 22q11.2 deletion syndrome.
Fickenscher told Proactive that Zynerba is already in a sound financial position with $69.7 million of cash and cash equivalents as of March 31, 2022 - sufficient to fund planned operations and capital requirements through the end of 2023 or into early 2024