GW Pharma (GWPH), Others Dip as DEA Says Marijuana to Remain Schedule I Substance

August 11, 2016 10:07 AM EDT

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GW Pharma (NASDAQ: GWPH), Cara Therapeutics (NASDAQ: CARA) and Insys Therapeutics (NASDAQ: INSY) dipped lower after the DEA denied requests to loosen the classification of marijuana as a dangerous drug with no medical use.

In comments earlier, Height Securities analyst Stefanie Miller said should marijuana remain a Schedule I substance the news would be negative especially for GW Pharmaceuticals, but also Insys Therapeutics.

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