An advisory panel to the U.S. Food and Drug Administration unanimously voted in favor of approving the first cannabis-derived medicine in the country, a childhood epilepsy treatment developed by GW Pharma.

Zynerba Pharmaceuticals Inc.’s stock lost more than half its value on Monday after the U.S. drug developer said its synthetic cannabis-based gel for epilepsy failed a mid-stage study.

British drug developer GW Pharmaceuticals Plc said its experimental cannabis-derived epilepsy drug met the main goal to reduce frequency of seizures in a late-stage study.

An experimental cannabis drug for treating schizophrenia, developed by UK-based GW Pharmaceuticals Plc, was found to be superior to a placebo in a mid-stage trial. The company’s UK-listed shares jumped 12.5 percent, while U.S.-listed shares were up 10 pct. The drug, cannabidiol, was tested in 88 patients with schizophrenia, who had failed to respond to […]