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MARKETS LIVE BLOG:

DOW POSTS 6TH DAY OF GAINS BUT NASDAQ SLIPS

Fed's Collins warns interest rates will likely stay higher for longer

Today’s Research Reports on Stocks to Watch: GW Pharmaceuticals and PolarityTE

ACCESSWIRE

NEW YORK, NY / ACESSWIRE / June 26, 2018 / It was a bad day for PolarityTE shares on Monday after short seller Citron Research asked upon the SEC to "halt this stock immediately" on claims that the company is a "fraud." Shares of GW Pharmaceuticals may have closed in the red yesterday but the company made history as its Epidiolex drug was the first marijuana-based drug to be approved by the FDA in the nation.

RDI Initiates Coverage on:

GW Pharmaceuticals plc
https://www.rdinvesting.com/report/?ticker=GWPH

PolarityTE, Inc.
https://www.rdinvesting.com/report/?ticker=COOL

GW Pharmaceuticals plc shares closed down 4.29% on almost 1.2 million shares traded on Monday. Share Price dropped despite the news that the U.S. Food & Drug Administration has approved the company's epilepsy treatment Epidiolex. Epidiolex is the first cannabis-based drug to win approval in the country. Food and Drug Administration Commissioner Scott Gottlieb remarked, "This approval serves as a reminder that advancing sound development programs that properly evaluate active ingredients contained in marijuana can lead to important medical therapies." The Drug Enforcement Administration must now evaluate the drug and consider reclassifying it as a substance that has medical properties in order for GW to start selling it. The reclassification is expected to happen within 90 days according to the company. The deputy director of regulatory programs at the FDA's Center for Drug Evaluation and Research, Douglas Throckmorton, stated, "I hope patients have conversations with their physicians about whether this product (Epidiolex) provides them with treatment they have been looking for with other unapproved products."

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Access RDI's GW Pharmaceuticals plc Research Report at:
https://www.rdinvesting.com/report/?ticker=GWPH

PolarityTE, Inc. shares collapsed in Monday trading, closing the day down a little over 27% on early 6.9 million shares traded. Average trading volume for the stock is roughly 575,000 shares. Shares of the company dropped as much as over 30% after Citron Research accused the company of fraud. According to Citron, the Security Exchange Commission should halt trading the stock "immediately before insiders are allowed to enrich themselves even more as the company continues to deceive investors." The short seller also said that "a group of serial stock promoters" have profited without properly disclosing their receipt of a notice of non-final rejection of the company's critical patent. A spokesperson for PolarityTE denied the claims and said that the company "remains focused on transforming the lives of patients by discovering, designing and developing a range of regenerative tissue products and biomaterials."

Access RDI's PolarityTE, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=COOL

Our Actionable Research on GW Pharmaceuticals plc (NASDAQ: GWPH) and PolarityTE, Inc. (NASDAQ: COOL) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com