GW Pharma Gets Unanimous Support for Epidiolex Approval from FDA Advisory Committee

The potentially first botanically-derived FDA-approved cannabis-based product moved closer to approval today, as an Advisory Committee discussed the safety and efficacy of Epidolex, intended to treat seizures in children suffering from rare forms of epilepsy. GW Pharma (NASDAQ: GWPH), the drug’s sponsor, and the FDA provided testimony to the committee met, which met for several hours and heard testimony from the public, many of which were personal stories told by children and their parents about how life-changing the oral CBD product had been during clinical trials and expanded access programs. The thirteen committee members voted unanimously to recommend approval to the FDA, which is expected to conclude its review by June 27th:

Trading has been halted in GWPH thus far today. The stock had rebounded earlier this week when materials for the committee were shared publicly, leading investors to conclude that the panel would vote favorably. GWPH posted an all-time closing high just under $140 in late January and closed yesterday at 133.39, giving it a market capitalization of approximately $3.9 billion based on 29 million fully-diluted shares.

Exclusive article by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

Get Our Sunday Newsletter