GW Pharma scuttles UK listing to trade on US market
GW Pharmaceuticals, a high-flying biotech firm in the United Kingdom that is seeking U.S. regulatory approval for a CBD-based drug, has abandoned its U.K. stock market listing to instead trade exclusively in the United States.
The firm announced it would ditch its Aim market listing this December, according to Britain’s Telegraph newspaper.
A company executive said it no longer needed a dual listing because the majority of its shares are now traded on the Nasdaq and held by U.S. investors.
GW Pharma is developing Epidiolex, a cannabis-based epilepsy drug for children. If approved by the U.S. Food and