Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE) released financial results for the first quarter ended March 31, 2023, revealing research and development expenses were $7.1 million for the first quarter of 2023, including stock-based compensation of $400,000.

General and administrative expenses were $3.4 million in the first quarter of 2023, including stock-based compensation expense of $400,000.

Net loss for the first quarter of 2023 was $10.1 million, with basic and diluted loss per share of $(0.21).

“The first quarter of 2023 was a period of continued focus and execution on our two lead programs with Zygel,” stated Armando Anido, chairman and CEO of Zynerba. “During the quarter we continued to enroll patients in our confirmatory pivotal phase 3 RECONNECT trial as we are committed to bringing the first …

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