- Shares of cannabinoid biopharmaceutical firm GW Pharmaceuticals (GWPH) are up 7% premarket to $49.50 on modest volume after Morgan Stanley initiates coverage with an Overweight rating and $103 PT.
- Bank of America has a PT of $93, Piper Jaffray has $97 and Leerik Swann $79.
- The company's lead products are GWP42006 for epilepsy, GWP42004 for Type 2 diabetes and GWP42003 for schizophrenia.
- GWP42006's active ingredient is the non-psychoactive cannabinoid cannabidivarin extracted from the cannabis plant. A Phase 2 clinical trial should start later this year.
- GWP42004's active ingredient is the non-psychoactive plant-derived tetrahydrocannabivarin. A Phase 2b clinical trial is expected to start in H2 2015 to compare its glycemic control efficacy versus placebo as an add-on therapy to metformin.
- GWP42003's active ingredient is purified cannabidiol. A Phase 2a is underway to assess its efficacy as a first-line therapy. The study will be completed in H2 2015.
- The firm also has another Epilepsy drug, Epidiolex, in development. It's active ingredient is plant-derived cannabidiol. The FDA designated it an Orphan Drug for the treatment of Dravet Syndrome and Lennox-Gastaut Syndrome.