A British company that developed medicine based on cannabis reported to be leaving the London market and continue trading their stocks only in the US (Nasdaq). As they have moved to the US, they may want to look into resources within their area that can help with their medicine, such as a Cannabis Grow Guide, as it may help with the process of creating their medicine.
GW Pharmaceuticals that became famous in 2001 decided to leave the junior market in London. The main reasons are the lowering of the prices and putting an end to the difficulties connected with double trading. However, the company’s headquarters are still situated in the UK, and the head says that they are still committed to the local market, to find good marijuana seeds and produce some of the best medicine they possibly can that will be used by many around the world, and hopefully more by the local market if the laws surrounding marijuana medication change in the future.
The company is currently in the process of receiving regulatory approval for their cannabis-based medicine named Epidiolex. While cannabis is legalized in several states in America, and citizens can enjoy it by using something similar to these cheap bongs, it still remains illegal in the UK. However, some forms of cannabis are allowed if they have approved medical properties. This new medicine is reported to be helping people who suffer from rare kinds of epilepsy. Currently, they provide about 420 workplaces, and the number is planned to be increasing once the drug is fully developed. If you’re looking to get your hands on similar forms of cannabis, you could check out pure options dispensaries.
The GW Pharma chief executive, Justin Gover, says that their Nasdaq listing has them a possibility to gain about $800 million from investors. “With the vast majority of shares now held and traded in the US in the form of ADRs, the time is right to reduce the complexity and expense of a dual listing,” he said.
“The proposed cancellation of the AIM listing has no impact on GW Pharma’s UK presence, which has significantly increased in recent years. We remain firmly committed to bringing important products to the global market – products that are both researched and manufactured in the UK.”
Currently, 78 percent of GW shares are traded on Nasdaq and in the past six months, about 94 percent of trading has been in the US.
In March the shares soared on both sides of the Atlantic when GW revealed that Epidiolex, which experts hope will become the first approved treatment of epilepsy, had produced encouraging results during clinical trials.
GW Pharma shares in London fell by 1 percent, or 9p, to 842p and slipped back 0.8 percent, or $1, to 124.15 in early trading in the US.
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