IPO News: UK-based cannabinoid therapeutics developer GW

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GW Pharmaceuticals, which develops and commercializes cannabinoid-based therapeutics, filed on Tuesday with the SEC to raise up to $50 million in an initial public offering. The Wilshire, United Kingdom-based company, which was founded in 1998 and booked $53 million in sales for the fiscal year ended 9/30/2012, plans to list on the NASDAQ under the symbol GWPH. GW Pharmaceuticals initially filed confidentially on 12/14/2012. Lazard Capital Markets and Cowen Company are the joint bookrunners on the deal. No pricing terms were disclosed.