Zynerba Pharmaceuticals Inc
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Health Care : Pharmaceuticals | Small Cap Value
Company profile

Zynerba Pharmaceuticals, Inc. is a biopharmaceutical company engaged in the pharmaceutically-produced transdermal cannabinoid therapies for orphan neuropsychiatric disorders. The Company is engaged in improving the lives of patients and their families living with severe, chronic health conditions, including Fragile X syndrome (FXS), and chromosome 22q11.2 deletion syndrome (22q). It is focused on using cannabinoids for treating behavioral symptoms of FXS and 22q. It is developing Zygel (ZYN002), a pharmaceutically produced cannabidiol formulated as a permeation-enhanced gel for transdermal delivery and manufactured without the presence of tetrahydrocannabinol (THC). It uses a patent protected formulation containing ethanol and propylene glycol as solubilizing agents and Transcutol HP as a permeation enhancer. Zygel is an investigational drug product in development for the potential treatment of behavioral symptoms associated with FXS, 22q, and autism spectrum disorder (ASD).

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Grayscale Decision is a Landmark Win for Crypto (4 Winners)

4:04 pm ET August 29, 2023 (Zacks) Print

Tuesday, crypto assets exploded to the upside after the US Court of Appeals for the DC Circuit issued its opinion in Grayscale Investments vs. SEC, ruling the agency was unreasonable to deny the crypto behemoth permission to launch a Bitcoin ETF.

Zacks Investment Research
Image Source: TradingView

Founded in 2013, Grayscale is a pioneer in providing the public access to crypto assets through untraditional means. The company is best known for its Grayscale Bitcoin Trust (GBTC) –the first publicly traded Bitcoin trust in the United States.  

For a long time, GBTC has been fighting with the Securities and Exchange Commission (SEC) to convert from a trust into a Bitcoin ETF. A Bitcoin ETF holds distinct advantages, including:

·      Accessibility: ETFs trade on well-known securities exchanges like the Nasdaq, offering a broader range of investors the opportunity to gain exposure to Bitcoin.

·      Regulatory Transparency and Protection: Because ETFs are regulated more than trusts, it can allow investors to feel more at ease.

·      Liquidity: ETFs can be bought and sold throughout the day and allow the shares to trade at or near its holdings’ Net Asset Value (NAV).

Now that we understand the advantages of a Bitcoin ETF, let’s discuss the biggest winners.

Bitcoin ETF Applicants: Though Grayscale is an obvious winner, the landmark court decision likely paves the way for other Bitcoin applicants like Fidelity, BlackRock (BLK), and ARK to market.

Coinbase (COIN): No other company stands to benefit as much as US crypto exchange giant Coinbase. Coinbase is listed as the custodian exchange in nearly every Bitcoin ETF application. Coin shares jumped 15% on Tuesday’s news and regained the 50-day moving average on massive volume.

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Image Source: TradingView

Commercial Bitcoin Miners: Publicly traded Bitcoin miners like Marathon Digital (MARA) and Bitfarms (BITF) saw some of the strongest accumulation on Tuesday.Further Bitcoin adoption means that any Bitcoin rewards from Bitcoin mining for validation by these companies are worth more.

Proxies: Software company MicroStrategy (MSTR) famously adopted the “Bitcoin Standard” years ago. In other words, any money the company makes from its software business floats on a Bitcoin “Sail.” MSTR currently holds billions in Bitcoin.

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Image Source: MicroStrategy


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BlackRock, Inc. (BLK): Free Stock Analysis Report
MicroStrategy Incorporated (MSTR): Free Stock Analysis Report
Marathon Digital Holdings, Inc. (MARA): Free Stock Analysis Report
Grayscale Bitcoin Trust (GBTC): ETF Research Reports
Coinbase Global, Inc. (COIN): Free Stock Analysis Report
Bitfarms Ltd. (BITF): Free Stock Analysis Report

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