GW Pharmaceuticals, a United Kingdom-based company that develops CBD-rich treatments, has been added to the Nasdaq Biotechnology Index (NBI).
The NBI tracks the performance of a set of securities traded on the exchange that are classified as biotech or pharmaceutical companies.
GW Pharmaceuticals is the developer of Sativex, a cannabis-based drug that is approved in 27 countries – but not the United States – to treat symptoms of multiple sclerosis.
GW Pharmaceuticals said earlier this year that it planned to raise nearly $150 million from U.S. investors to advance an epilepsy drug that uses CBD called Epidolex. The drug received fast-track status from the FDA to speed up testing and potential approval.