Study Results Send GW Pharma’s Stock Soaring

A British maker of cannabis-based drugs revealed some sorely needed good news on Monday, announcing that an epilepsy medicine it created has successfully treated a severe form of epilepsy in children, according to Reuters.

In a clinical study, GW Pharmaceuticals said its Epidiolex syrup reduced the monthly number of seizures in children with Dravet’s Syndrome by 39%, compared to a placebo that reduced the seizures by 13%.

The results of the clinical study propelled the Cambridge-based firm’s stock price to $81.67 in morning trading on the Nasdaq, a gain of more than 112% over Friday’s closing price of $38.46.

Thomson Reuters Cortellis estimates that Epidiolex could generate $1.1 billion in annual sales by 2021.

GW Pharmaceuticals’ stock had been suffering following sales of only $5 million in 2015 and a lackluster result in three studies that found its cannabis-based cancer drugs had little effect on patients.

Much work remains, however, for the 18-year-old company. The study of 120 kids was only the first of four Phase III studies – the final phase before a drug enters the market. The company will now seek regulatory approval from the U.S. Food and Drug Administration, Reuters reported.

Daily News | Briefs | Marijuana Stocks & Public Companies

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note: Comments are moderated by our editors who do their best to approve comments ASAP. As Marijuana Business Daily is focused on business, we approve comments that are specifically relevant to industry professionals. General opinions and questions about cannabis may not be posted.