A leading developer of cannabis-based pharmaceuticals experienced wild lows and highs on the stock market as investors suffered severe anxiety attacks after latest trial updates.
GW Pharmaceuticals has been developing experimental cannabinoid pain-relief medicines for cancer sufferers as part of a programme that has seen the Wiltshire-based company valued on the stock market in recent months at as much as £1 billion.
However, an update yesterday on late-stage clinical trials into the efficacy of its Sativex medication suggested that the drugs do not work. The trial, said GW, “did not meet the primary endpoint of demonstrating a statistically significant difference from placebo”.
The blow sent shares in GW on a downer, falling by as much as 20 per cent soon after the announcement. Euphoria soon