GW raises $252M in follow-on

GW Pharmaceuticals plc (LSE:GWP; NASDAQ:GWPH) raised $252 million through the sale of 2.8 million ADSs at $90 in a follow-on underwritten by Morgan Stanley, BofA Merrill Lynch, Goldman Sachs, Cowen and Piper Jaffray. GW proposed to raise $150 million in the offering late Tuesday, when its ADSs closed at $97.10 on NASDAQ.

In 1H17, GW plans to submit an NDA for anticonvulsive therapy Epidiolex cannabidiol to treat Lennox-Gastaut syndrome (LGS) and Dravet syndrome, both rare forms of epilepsy. The therapy is an oral liquid formulation of cannabidiol, a phytocannabinoid found in Cannabis sativa. ...