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Zynerba Pharmaceuticals to raise funds for cannabinoid-based treatments

Zynerba Pharmaceuticals Inc. is looking to raise funds for the continued development of its cannabinoid-based treatments ZYN002 and ZYN001.

The company is planning an underwritten offering of shares, and while pricing will occur at a later date, Zynerba did note that it will grant underwriters a 30-day option to purchase up to an additional 15% of the shares being offered.

Jefferies LLC and Piper Jaffray & Co. are acting as joint book-running managers for the offering.