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[crashpoet]

Den Wert hat es schwer erwischt, nachdem sich die Zulassung des Hauptproduktes (Sativex) deutlich verzögert.

Da das Teil m.E. aber Zukunft hat, ist der Rebound nur eine Frage der Zeit.



GW shares slump to 16-month low

SHARES in GW Pharmaceuticals (LSE: GWP.L - news) ` crashed 25 per cent to a 16-month low yesterday as the lossmaking biotech firm`s
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hopes of winning regulatory approval for a make-or-break cannabis-based medicine suffered a fresh delay.

GW, which grows more than 40,000 marijuana plants a year at a secret location in the English countryside, said it did not now expect UK regulators to approve Sativex for pain relief in multiple sclerosis patients until after the end of June.

It is the third delay for what could be a money-spinner for the company. It had originally hoped Sativex, which is partnered with Germany`s Bayer AG (Xetra: 575200.DE - news) , would be approved last year.

As that deadline went, GW said in January that the approval was likely to be delayed until the second trading quarter of 2004 because of a flood of drug submissions in Britain.

However, yesterday the group said: "Whilst the directors of GW have not altered their expectations that approval of Sativex will be granted, it is clear that the regulatory process will continue past the end of the second quarter."

GW shares slumped 45p to 133.5p. The price at the company`s flotation in 2001 was 182p.

Sativex is sprayed into the mouth rather than smoked. It is seen as a crucial product for GW, which made a net loss of £8 million (£14.3m) in the year to end-September 2003. The company has never made a profit and is pinning its hopes on Sativex.

By: MARTIN FLANAGAN -- 01-May-04

[Morgenrte]

Hi,
könnte echt ne Chnace sein - but risky! Ein marketcap von 144 Mio Pfund ist ja nicht wenig; d.h. potentiell gibts da auch noch einges an Platz NACH UNTEN...,
good luck in any case!


Cannabis drug is risky market play
Midas, Mail on Sunday
1 June 2004

RUGS developer GW Pharmaceuticals is not a company for cautious investors. The group has yet to make a profit and its main product is not yet approved for sale in the UK.


GW, chaired by Dr Geoffrey Guy, has spent six years refining the key chemicals in cannabis plants for medical use. The main potential for its products is in pain relief, particularly for multiple sclerosis sufferers.



The company, based in Wiltshire, has developed a pain-relief product, Sativex, which is delivered into the body through a mouth spray. It has also reached an agreement with drugs giant Bayer to market and distribute Sativex around the world.



The process has cost millions and last year GW reported losses of just over £8m, but the drug is now with the Medicines & Healthcare Products-Regulatory Agency for final approval.



Analysts believe Sativex sales could eventually be measured in the hundreds of millions of pounds.



Then last month came a blow to GW`s shares price. It had predicted approval before the end of next month, but GW said the timetable had slipped and approval would be delayed. Shares in GW plunged 25% in a single day and they have still not recovered. The shares closed at 130 1/ 2p, valuing the group at £144m.



The risk and the opportunity are clear. If this turns out to be a short delay for Sativex, once approval is gained, the shares will surge higher.



If the delay turns out to be long or the drug is rejected by the authorities, GW shares are likely to slump further.