The first tip of 2005, I think this will be tipped in many more places.
4. GW Pharma
Perhaps a little speculative, biotechnology firm GW Pharma is all about one highly contentious product: Sativex, a cannabis-based treatment for multiple sclerosis.
On December 21 Canada approved the drug for use against that one disease, a major break-through for the company. The active ingredient in cannabis has unique status as an effective pain-killer against a huge range of ailments, with side-effects which are well-known and less severe than those of other pain-killers.
However, regulatory authorities are keenly aware of the adverse publicity such an approval may have because of the illegality of recreational cannabis use.
Approval in the UK has been repeatedly held up by regulatory delays. That is why Canada’s move will be keenly watched for signs that others may follow. Like most biotech stocks, normal measures of GW Pharma’s value are meaningless.
It has £24 million cash, enough to keep it going while Canadian payments come through. Everything depends on newsflow.
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