Zynerba Pharmaceuticals files for a $58 million IPO

Zynerba Pharmaceuticals, a preclinical biotech developing cannabinoid-based therapies for osteoarthritis and epilepsy, filed on Wednesday with the SEC to raise up to $58 million in an initial public offering.

The Devon, PA-based company, which was founded in 2007, plans to list on the NASDAQ under the symbol ZYNE. Zynerba Pharmaceuticals initially filed confidentially on January 12, 2015. Jefferies and Piper Jaffray are the joint bookrunners on the deal. No pricing terms were disclosed.