Zynerba Pharmaceuticals Announces Further Adjournment of Annual Meeting

Annual Meeting Reconvened and Adjourned Without Conducting Business

Meeting to Reconvene on July 27, 2023 at 9:00 am EDT

DEVON, Pa., June 28, 2023 (GLOBE NEWSWIRE) -- Zynerba Pharmaceuticals, Inc. (Nasdaq: ZYNE) (the “Company”), the leader in innovative pharmaceutically-produced transdermal cannabinoid therapies for orphan neuropsychiatric disorders, today announced that the adjourned 2023 Annual Meeting of Stockholders (“Annual Meeting”) was reconvened and then adjourned, without conducting any business, in order to provide stockholders additional time to consider and vote on Proposal 2 to amend the Sixth Amended and Restated Certificate of Incorporation of the Company to effect a reverse stock split of the Company’s outstanding shares of common stock by a ratio of any whole number between 1-for-2 and 1-for-50, at any time prior to November 1, 2023, the implementation and timing of which shall be subject to the discretion of the Board of Directors of the Company.

The Company believes there is significant support for Proposal 2. At the time of the reconvened Annual Meeting approximately 46.9% of the outstanding shares entitled to vote had voted in favor of Proposal 2; however, because Proposal 2 must be approved by a majority of the outstanding shares entitled to vote, it has not yet received a sufficient number of votes in its favor. The Company’s Board of Directors continues to believe that Proposal 2 is advisable and that it is in the best interests of the Company’s stockholders to consider and act upon Proposal 2.

The Annual Meeting will be reconvened on July 27, 2023 at 9:00 am EDT, and will be a “virtual” meeting of stockholders. The record date for the adjourned Annual Meeting continues to be April 17, 2023. A stockholder may use one of the following simple methods to vote:

Vote by Internet at www.voteproxy.com until 11:59 PM EDT on July 26, 2023 using the control number appearing on the proxy card.

Vote by telephone by calling the toll-free telephone number 1-800-776-9437 until 11:59 PM EDT on July 26, 2023 using their control number appearing on the proxy card.

Vote by mail by marking, dating and signing the proxy card, and returning it in the postage-paid envelope provided to American Stock Transfer & Trust Company, LLC.

Vote at the virtual Annual Meeting by joining the meeting at https://web.lumiagm.com/236626312 (password: zyne2023) using the control number included on the proxy card.