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UK: Cannabis drug developer GW Pharma cancels London stock market list in favour of Nasdaq

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Submitted by Marijuana News on Thu, 10/20/2016 - 09:35

UK biotech firm is close to achieving approval for a new drug to treat childhood epilepsy

A UK drug company specialising in cannabis-based medicines has ditched its stock market listing in London in favour of trading exclusively on New York’s Nasdaq, but claims it will keep its headquarters in Cambridge.

GW Pharmaceuticals, one of the UK’s most promising biotech firms, is close to achieving approval for a new drug to treat Dravet Syndrome, a severe form of childhood epilepsy. 

The new drug which is derived from cannabis and known as Epidiolex has helped GW almost double in value this year to £2.55 billion. Though Dravet syndrome is extremely rare, Goldman Sachs last week highlighted that the new drug will have “widespread off-label uses” and upgraded its recommendation to “buy”.

Epidiolex’s active ingredient, CBD, occurs naturally in the cannabis plant and is not psychoactive. It is known to reduce inflammation, suppress seizures,...

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