UK developer of medical cannabis products raises $345m through share sale

UK-based GW Pharmaceuticals has sold almost two million shares in a recent offering on the US stock exchange.

Source: GW Pharmaceuticals

GW Pharmaceuticals, which has previously marketed cannabis-derived medicines Sativex and Epidiolex, has raised over $345m from share sales in the United States

The UK biopharmaceutical company GW Pharmaceuticals, a global developer of medical cannabis products, has released 2.1 million shares on the US stock exchange, raising US$345m.

The move comes four months after Epidiolex, an oral solution of purified cannabidiol (CBD) manufactured by GW Pharmaceuticals’s subsidiary Greenwich Biosciences, became the first cannabis-derived medicine approved for use in the United States for the treatment of seizures caused by Lennox-Gastaut and Dravet syndromes – both severe forms of epilepsy.

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