NEW YORK (TheStreet) -- GW Pharmaceuticals (GWPH) shares are up 3% to $64 on Monday following the announcement that its Sativex drug treatment had received a "fast track" designation from regulators at the Food and Drug Administration.
The fast track program is designed to facilitate the development of drugs intended to treat life threatening diseases.
Sativex, a cannaboid based treatments that is comprised of CBD (cannabidiol) and THC, is designed to treat pain associated with advanced stages of cancer. It is currently in Phase 3 clinical trials.
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