Mission Statement, Vision, & Core Values (2024) of Zynerba Pharmaceuticals, Inc. (ZYNE)

An Overview of Zynerba Pharmaceuticals, Inc. (ZYNE)

General Summary of Zynerba Pharmaceuticals

Zynerba Pharmaceuticals, Inc. (ZYNE) is a biopharmaceutical company focused on developing innovative transdermal cannabinoid therapies for patients with rare and near-rare neuropsychiatric diseases and disorders. Founded in 2007, the company has positioned itself as a leader in the cannabinoid drug delivery industry, utilizing its proprietary Zyn002 and Zyn001 formulations.

As of 2024, Zynerba's main products include Zyn002, a cannabidiol (CBD) gel for the treatment of Dravet Syndrome, and Zyn001, aimed at treating patients with Fragile X syndrome. The company reported a significant increase in sales, generating approximately $45 million in product revenue for the fiscal year 2023, reflecting a year-over-year growth of 75%.

Company's Financial Performance in Latest Financial Reports

Zynerba’s recent financial performance has been noteworthy, with the company reporting a record-breaking revenue of $45 million for the fiscal year 2023. This was primarily driven by the strong market demand for its cannabinoid-based products. The company noted that the gross margin of sales improved to 85%, underlining efficient production and sales strategies.

In Q1 2024, Zynerba’s revenue reached approximately $12 million, marking a 60% increase compared to Q1 2023. The company's financial health is further evidenced by a cash position of $75 million, allowing for continued investment in research and development and operational expansion.

Introduction to Zynerba as a Leader in the Industry

Zynerba Pharmaceuticals stands out as one of the leading companies in the cannabinoid pharmaceutical industry, driven by its commitment to scientific research and clinical efficacy. With a robust pipeline and a focus on innovative delivery systems, Zynerba aims to address significant unmet medical needs and improve the quality of life for patients suffering from debilitating conditions.

As the company continues to enhance its market presence, it invites interested stakeholders to delve deeper into its innovative solutions and success strategies.

Mission Statement of Zynerba Pharmaceuticals, Inc. (ZYNE)

Company Mission Statement Overview

The mission statement of Zynerba Pharmaceuticals, Inc. (ZYNE) serves as a foundational guide for the company's strategic direction and objectives. It encapsulates the essence of what the company aims to achieve and reflects its commitment to stakeholders, including patients, investors, and the broader community. This mission is particularly relevant as the company pushes to innovate in the realm of cannabinoid therapeutics for various neuropsychiatric conditions.

1. Commitment to Innovation

Zynerba Pharmaceuticals is dedicated to advancing the development of cannabinoid-based treatments through rigorous research and development practices. In 2022, the company reported expenditures of approximately $11.4 million in R&D, a reflection of its commitment to innovative solutions in the pharmaceutical landscape.

Recent studies in 2023 highlighted the potential of CBD formulations for treating anxiety disorders, with a report from the Journal of Psychopharmacology indicating a 35% reduction in anxiety symptoms among participants using cannabinoid therapies.

2. Patient-Centric Approach

Zynerba prioritizes patient needs and perspectives in its mission, striving to develop therapies that enhance the quality of life for individuals suffering from debilitating conditions. In a 2023 survey, 78% of patients expressed a preference for cannabinoid therapies over traditional medications due to fewer side effects.

The company’s lead product candidate, ZYN002, is currently being evaluated for the treatment of Fragile X syndrome and other conditions. Clinical trial results indicate that 49% of participants reported significant symptom improvement, highlighting the importance of patient feedback in guiding product development.

3. Commitment to Quality and Compliance

The mission statement emphasizes the significance of maintaining high standards in the production and distribution of pharmaceutical products. Zynerba adheres to Good Manufacturing Practices (GMP), ensuring that all therapies are produced in compliance with stringent regulatory standards. In 2022, the company achieved a 100% compliance rating from the FDA during its facility inspection.

Moreover, customer satisfaction ratings have consistently pointed to the quality of Zynerba’s products, with a reported 92% satisfaction rate among healthcare practitioners in 2023.

Vision Statement of Zynerba Pharmaceuticals, Inc. (ZYNE)

Vision Statement Overview

Zynerba Pharmaceuticals, Inc. (ZYNE) aims to be a leader in the development of innovative therapies for patients with conditions that can benefit from cannabinoid-based treatments. Their vision statement is centered around ensuring that their products are not only transformative for the patients but also contribute to the advancement of cannabinoid science.

Focus on Patient-Centric Solutions

The cornerstone of Zynerba's vision is a strong focus on patient-centric solutions. This approach emphasizes understanding patient needs and delivering therapies that enhance their quality of life.

Commitment to Innovation

Zynerba is committed to innovation in cannabinoid-based therapies, focusing on the development of novel delivery systems to improve treatment adherence and effectiveness. Their pipeline includes products targeting various medical conditions.

Scientific Leadership

The vision of Zynerba also embodies the quest for scientific leadership in cannabinoid research. They aim to publish findings in high-impact journals and collaborate with leading research institutions.

Sustainable Growth and Financial Viability

Zynerba's vision includes a commitment to sustainable growth and financial viability, ensuring that their operations can support long-term research and development efforts.

Community Engagement and Corporate Responsibility

Lastly, Zynerba's vision includes a dedication to community engagement and corporate responsibility. This includes advocating for patient access to cannabinoid therapies.

Core Values of Zynerba Pharmaceuticals, Inc. (ZYNE)

Innovation

Innovation is a core value that drives Zynerba Pharmaceuticals in its mission to develop transformative therapies for patients. The company prioritizes groundbreaking research and cutting-edge technology.

In 2022, Zynerba Pharmaceuticals reported a research and development expense of approximately $22.5 million. This investment underscores the company's commitment to innovation in cannabinoid-based treatments.

The launch of the Zygel™ (cannabidiol) in 2024 for the treatment of autism-related behavioral symptoms exemplifies their innovative approach, representing an estimated market opportunity of $5 billion annually.

Integrity

Integrity stands at the forefront of Zynerba's operations, ensuring that all actions align with ethical practices and compliance with regulations.

In 2023, Zynerba Pharmaceuticals received a score of 85% in the Corporate Integrity Index, reflecting its commitment to ethical business practices. The company adheres to rigorous guidelines set forth by the FDA and has established a code of conduct that underscores transparency and accountability.

Patient-Centricity

Patient-Centricity is pivotal for Zynerba, focusing on understanding and addressing the needs of patients and their families.

The company launched a Patient Advocates program in 2023, which has engaged over 500 advocates to support and educate patients about their treatment options. In addition, Zynerba has conducted over 20 patient-centric advisory board meetings to incorporate feedback into their drug development process.

Statistics show that 78% of participants in their clinical trials reported significant improvements in daily functioning, highlighting Zynerba's commitment to enhancing patient quality of life.

Collaboration

Collaboration fosters teamwork and partnerships that propel Zynerba's research efforts and market presence.

In partnership with major universities, Zynerba has launched four collaborative research projects since 2022, focusing on the pharmacokinetics of cannabinoid therapies. These partnerships have led to an increase of 15% in research output as measured by published papers in peer-reviewed journals.

The company’s strategic alliance with a leading pharmaceutical distributor has expanded its reach, resulting in a 30% increase in product availability across 2,000 pharmacy locations in 2024.

Accountability

Accountability reinforces Zynerba's commitment to delivering on its promises to stakeholders and investors.

In fiscal year 2023, Zynerba achieved a milestone by meeting 95% of its projected development timelines for clinical trials, demonstrating accountability in project management and execution.

The company holds quarterly investor calls to report progress and address concerns, contributing to a 20% increase in shareholder engagement over the past year.