Cannabis therapy firm posts loss

GW Pharmaceuticals, the Aim-listed drug firm focused on cannabis-based therapies, swung to a loss of £2m in the three months to the end of June but is hopeful of increasing sales in the US. Revenues fell from £14.4m a year ago to £7.3m, due to a one-off milestone payment in 2012. The company said its trial of cannabis-based pain medication for cancer patients is progressing well, and that it expects to increase sales in Europe.