GW Pharmaceuticals Is No Longer the Largest Pure-Play Marijuana Stock -- This Is
For as long as this writer can recall, GW Pharmaceuticals (NASDAQ: GWPH) has been the kingpin of all marijuana stocks. It's had a market cap that's hovered around $3 billion for the better part of three years, making it the largest weed stock by market cap by a mile.
The recent success of GW Pharmaceuticals is tied to its cannabinoid-based drug-development pipeline. Though it does have one approved drug in foreign markets throughout Europe, Sativex, as a treatment for spasticity tied to multiple sclerosis, virtually no value is tied to this drug. Instead, all eyes are laser-focused on the development of Epidiolex, a cannabidiol-based oral medicine designed to treat two rare types of childhood-onset epilepsy, Dravet syndrome and Lennox-Gastaut syndrome. Cannabidiol is the non-psychoactive component of cannabis.
Image source: GW Pharmaceuticals.
Source: Fool.com
