This Is Why Marijuana Stocks are Up Today
It’s been a winning day for some pharmaceutical companies making drugs based on marijuana.
Especially for those treating epilepsy.
After GW Pharmaceuticals announced that it had successfully treated a form of epilepsy using its cannabis-based drug Monday, Pennsylvania-based drugmaker Zynerba Pharmaceuticals stock also rose in concert by 150% during trading Monday.
Zynerba continued its rise 7% in after hours trading.
Like GW Pharmaceuticals gwph , Zynerba zyne is currently producing and testing several drugs treating epilepsy. One such drug in the pipeline is Zynerba’s ZYN002, a synthetic cannabinoid which mimics the effects of natural cannabinoids. It is delivered through the skin via gel.
The similarities between GW’s Epidiolex and Zynerba’s own drugs under development have pushed up investor optimism over the legitimacy of medical marijuana.
“GWP’s Epidiolex is a cannabinoid, similar to ZYNE’s products, with potentially better drug exposure with ZYNE’s transdermal system...
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