Indices are flat marking time for earnings reports. Lower oil is not helping either.
S&P 500 @ 2459.29, high 2462.82, low 2457.16
Internals are positive
Oil Down 41 cents
Gold UP $6.80
Canadian $ Down 46 tick @ .7314
VIX UP 3.26% @ 9.82
Portfolio AAPL BIDU BBRY FB LULU MOMO OCLR SWIR TWTR WB
Most stocks are down
@ 2.19 following are green :
AAPL LULU TWTR VRX MCHP AMZN CNQ FCX TECK FFIV
DNKN MSFT COH JKS TK RIG FEYE SPWR GS MA DATA
ORCL MS SNAP AEM ABX KGC SPLK KORS GG X M ......
BLOG does NOT give buy or sell.
Saleem
1 comment:
Hi guys,
For all those following ZYNE with me:
14:29 EDT ZYNE Before the Move: Watch Zynerba ahead of trial data
With Zynerba Pharmaceuticals (ZYNE) expected to release data from a Phase 2 trial over the next several weeks, Jefferies analyst Biren Amin recently argued that a positive update could lead the shares north of $65-$75. However, a lack of treatment effect could drop the stock to $4-$5. CANNABIDIOL GEL: Over the coming weeks, Zynerba is expected to announce data from its ZYN002 cannabidiol, or CBD, gel Phase 2 STAR 1 trial in adult epilepsy patients with refractory focal seizures. ZYN002 is a synthetic CBD formulated as a permeation-enhanced gel for transdermal delivery. BINARY EVENT: In a research note to investors, Jefferies' Amin pointed out that the STAR-1 trial represents a "critical catalyst" for Zynerba as it provides the first proof of concept for transdermally delivered CBD. Given investors naturally compare the program to GW Pharma's (GWPH) Epidiolex, and oral CBD, the analyst believes a better comparison would be to therapies tested in patients with partial-onset seizures who are uncontrolled on their current therapy. Additionally, Amin noted that while the study is designed for a 20% treatment effect over a placebo, an effect greater than 15% could be considered clinically relevant. A key question that remains unanswerable is the extent of activity observed with ZYN002 given this is the first study evaluating efficacy in epilepsy patients, he contended. Amin told investors that positive data could lead to shares north of $65-$75, but a lack of treatment effect could drop shares to $4-$5. The analyst assumes ZYN002 is successfully developed and launched for refractory epilepsy in 2019. Amin reiterated a Buy rating and a $32 price target on the shares. PRICE ACTION: In Monday afternoon trading, shares of Zynerba have dropped 3% to $18.82. Over the last month the stock is up 10%, but over the last three months it has declined nearly 24%.
Stocktrader
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