GW Pharmaceuticals Just Delivered Some Good News About Its Marijuana-Based Drug

This year has been a real seesaw for shareholders of GW Pharmaceuticals (NASDAQ: GWPH). Lately, that seesaw is tipping up slightly, following news that a cannabidiol-based drug candidate the company developed has been formally submitted to the Food and Drug Administration for review.

That's given some hope to a market that had been quite bearish on GW Pharma's prospects. Here's why.

GW Pharma's drug candidate in question is Epidiolex, a treatment that, in the company's words, "is a pharmaceutical formulation of purified cannabidiol (CBD), which is in development for the treatment of several rare childhood-onset epilepsy disorders." Specifically, these afflictions are Dravet and Lennox-Gastaut (LGS) syndromes.

Source: Fool.com