An article in the National Post, mostly discussing GW Pharmaceutical’s stock prospects (and it’s poor cash position) concluded with some interesting points about the future of the liquid form of marijuana called Sativex¬.
But Evolution Securities’ Mr. Senior said there are numerous ways to raise funds, including a standard equity fund-raising, convertible debt or a loan from Bayer against future royalties. He said there is a 90% chance Sativex will be approved in the U.K. within 12 months, thus paving the way for European approval.
Approval in the U.S. is still at least three years away, he said, but Health Canada’s decision should put some pressure on American authorities. Sativex will inevitably find its way into the U.S. illegally, which may prompt authorities to explore the issue of medicinal cannabis.
“We continue believe it is a case of ‘when rather than if” Sativex will be approved,” he said.