GW Pharmaceuticals, the company behind the first FDA approved cannabis medicine Epidiolex, brought excitement to the market yesterday. It announced a successful trial of Epidiolex and further proved the medication’s ability to treat two rare forms of epilepsy. GWPH stock was up over 4% as a result.
The news sent GWPH stock on an upward trajectory, and at the height, it was selling for $133.00 USD. Today, however, the company has lost most of those gains, opening at $126.80. Perhaps some investors took advantage of the short-term price hike and quickly sold at the height.
However, the news is sure to affect GWPH stock in the long-term, as the trial met its objective of reducing convulsive seizures in patients with two dose levels, 10mg and 20mg a day. This is big news for the company and for the drug in question, Epidiolex.
As CEO of the Epilepsy Foundation, Philip M. Gattone puts it:
“The positive results from this latest EPIDIOLEX clinical trial are very encouraging for those living with intractable seizures caused by LGS and Dravet syndrome, two extremely difficult treatment-resistant forms of epilepsy.”
GW Pharmaceuticals (NASDAQ:GWPH) ran the study over a 14-week period. The results showed a dramatic reduction of seizures in patients, including a 46% decrease for those on the 20mg dose, and a 49% decrease for those on the 10mg dose.
According to the principal investigator of the trail Ian Miller MD:
“The positive outcome in this second trial of EPIDIOLEX in patients with Dravet syndrome further reinforces the effectiveness of this newly available medicine in this particularly difficult to treat, childhood-onset epilepsy.”
GWPH Stock: Q4 Earnings Release
GW Pharmaceuticals’ Q4 earnings release is expected later today. It is projected that the results will show a loss of $2.46 per share on sales of $5.48 million.
In Q4 2017, recorded sales totaled $2.86 million. However, this year, revenue is predicted to have grown over 90%. Despite this, GWPH stock is down 1.84% on the year.
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