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GW STOCKS higher on cannabis drug hopes

Shares in cannabis drug specialist GW Pharma (GWP.L) rise 8 percent after the company says that it has filed its Sativex drug for regulatory approval in Europe.

gw pharma cannabis sativex marijuana“Since the pivotal trial was designed largely by the regulators we feel there is relatively low risk of a rejection,” says KBC analyst Paul Cuddon.

“A maiden set of interim profits, strong cash position and the fact that they’ve filed Sativex for approval in Spain and UK can all be considered goods news,” says Cuddon, who has a “buy” stance on the stock and a 120 pence price target on the stock.

Source: http://uk.reuters.com/article/hotStocksNews/idUKLK40873120090520

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