British company, GW Pharmaceuticals, has given investors peace of mind that they are legitimate and ready to push forward past competitors in the marijuana industry.
GW Pharmaceuticals recently released a a cannabinoid drug, Epidolex. After numerous studies, the company has proven that this drug has the ability to reduce seizures for children suffering from a rare form of epilepsy.
Shortly following this announcement, shares of the company soared on the news, rising 30% to $88.94.
Following suit, Pennsylvania-based drug maker Zynerba Pharmaceuticals stock also rose by 150% during trading Monday. Similar to GW, Zynerba is currently producing and testing several drugs treating epilepsy.
Although these drugs are still in early stages of testing, they are constantly pushing up investor optimism over the legitimacy of medical marijuana.