Shares of cannabinoid biotechnology companies Cara Therapeutics, Inc. (NASDAQ:CARA) and Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) are both moving around in the markets intraday on Tuesday, November 27th, and many investors are left wondering why.
As the opioid epidemic rages on in the U.S., roughly 116 people die every day from opioid-related drug overdoses. This has led many exploratory pharmaceutical companies like Cara and Zynerba to seek out opioid alternatives to fight pain and more.
These developments have attracted the attention of scientists, legislators, and of course, investors. After all, investors are a necessary part of the equation as it costs roughly $2.6 billion for a drugmaker to bring a new FDA-approved prescription to market.
A great way to reach a lot of institutional investors at once is by participating in one of many investor conferences held around the globe throughout the year. Since Cara and Zynerba are both widely-followed NASDAQ-listed companies, they both have the opportunity to participate in Piper Jaffray’s 30th Annual Healthcare Conference this year.
Held in New York from November 27th through the 29th, approximately 300 leading public and private healthcare companies are delivering presentations to more than 2,000 institutional investors, equity portfolio managers, and research analysts.
Needless to say, it is important to pay attention whenever one of your current or prospective portfolio holdings is participating in major conferences. If you’re a shareholder of Cara, Zynerba, or any of the other companies presenting, it’s important to know that this event can move markets.
Early Tuesday morning at 9:50 AM E.S.T., Zynerba Pharmaceuticals presented, and later in the day, at 2:00 PM E.S.T., Cara Therapeutics will be presenting.
The increased awareness garnered by these presentations can move stock prices since the companies participating usually have some of their top executives giving an overview of their company and what’s to come.
In the interim, be sure to subscribe to Cara Therapeutics Updates here, and subscribe to Zynerba Pharmaceuticals Updates here so you never miss an important update on either company. Also, be sure to subscribe to Cannabinoid Biotech Updates here so you never miss an important update on the sector overall.
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