GW Pharma spikes as the latest buyout rumors swirl around cannabinoid pipeline
Shares of GW Pharmaceuticals $GWPH shot up 23% Wednesday afternoon after Reuters reported that the company had hired Morgan Stanley to help manage some unsolicited interest in a buyout.
Investors are on heightened alert status for anything that looks like a deal in the works, and GW has been on a roll recently with back-to-back positive readouts for Epidiolex. The cannabinoid drug has proven promising for reducing seizures for Lennox-Gastaut syndrome as well as a rare form of severe epilepsy, which has helped push its stock price steadily northward.
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