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GW Pharma to raise quarter of a billion dollars from US investors

It is doing so via the issue of American Depositary Shares that will be listed on NASDAQ.
GW Pharma to raise quarter of a billion dollars from US investors
American investors have been tapped for cash.

The UK’s GW Pharmaceuticals PLC (LON:GWP, NASDAQ:GWPH), a world leader in cannabis-based medicines, has outlined plans to raise US$252mln from US investors.

It is doing so via the issue of American Depositary Shares that will be listed on NASDAQ.

The stock is being offer at US$90, a modest discount to last night’s closing price of US$97.

The company said it will file next year for regulatory approval in the US for Epidiolex, used to treat severe epilepsy in children, after what were described as “stellar” late stage clinical trial results.

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