GW Pharmaceuticals just reported great news for its cannabinoid drug Epidiolex. An FDA Advisory Committee just unanimously recommended that the FDA approve the cannabis-based drug. This would be the first marijuana-based drug to be approved in the United States if the FDA follows the recommendation. This would be a big step forward for medical marijuana. A new marijuana drug on the market means another shift in the gradual societal move toward accepting marijuana for medical purposes.
Does this make GW Pharmaceuticals the marijuana stock to buy now?
Maybe. There are a lot of moving parts, and the drug has both Epidiolex and another cannabis drug named Sativex on the market in Europe. The uncertainty of a US launch, plus a $3.8 billion market cap largely buoyed by investor enthusiasm around marijuana stocks means the stock is priced for perfection. Watch the video above to hear the team’s take on GW Pharmaceuticals.
Was there something we missed – or something you wanted to hear more about? Drop us a comment below to let us know!
This video was recorded on April 25th, 2018.
You can read more about The Motley Fool’s disclosure policy here: https://www.fool.com/legal/fool-disclosure-policy/
Subscribe to The Motley Fool’s YouTube Channel: http://www.youtube.com/TheMotleyFool
Join our Facebook community: https://www.facebook.com/themotleyfool
Follow The Motley Fool on Twitter: https://twitter.com/themotleyfool
Or, follow our Google+ page: https://plus.google.com/+MotleyFool/p…