BRIEF — GW Pharma in $300 million share sell-off

First-to-market cannabinoid drug developer GW Pharmaceuticals (Nasdaq: GWPH) has announced that it intends to sell $300 million of American Depository Shares.

Along with its US subsidiary Greenwich Biosciences, UK-headquartered GW received US approval early this year for Epidiolex (cannabidiol) oral solution to treat seizures associated with Lennox-Gastaut syndrome (LGS) or Dravet syndrome.

That was considered a major milestone for cannabinoid drug developers, and a regulatory application has also been submitted in Europe for the adjuvant therapy of seizures associated with LGS and Dravet syndrome.

GW has a deep pipeline of additional cannabinoid product candidates which includes compounds in Phase I and Phase II trials for epilepsy, glioblastoma, autism spectrum disorder and schizophrenia.