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Fly News Breaks for August 8, 2017
ZYNE, GWPH
Aug 8, 2017 | 08:00 EDT
Maxim analyst Gabrielle Zhou downgraded GW Pharmaceuticals (GWPH) to Hold after rival Zynerba Pharmaceuticals (ZYNE) reported a failed Phase 2 study evaluating a cannabidiol gel in adult epilepsy patients with focal seizures. The selloff yesterday in GW shares suggests investor concern that GW's botanically derived cannabidiol gel's benefit may be "moderate at best," Zhou tells investors in a research note. The analyst now sees a "more neutral" risk/reward for shares of GW.
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