GW Pharmaceuticals PLC (NASDAQ:GWPH; ) shares climbed in premarket trade Monday, after the company said a second Phase 3 trial of its cannabis-based Epidiolex treatment for a severe form of childhood epilepsy produced positive results.
London-based GW Pharma’s lead product Epidolex, a cannabidiol oral medication for the treatment of seizures, takes aim at two types of childhood epilepsy, Dravet syndrome and Lennox-Gastaut syndrome.
GW Pharma said the trial met its primary endpoint of reducing convulsive seizures in patients suffering from Dravet syndrome. The endpoint was achieved at two dose levels, 10 mg a day and 20 mg a day, the company said in a statement.
READ: Leerink Partners starts coverage of GW Pharmaceuticals with Outperform rating and $185 price target
"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," said Philip M. Gattone, president and CEO of the Epilepsy Foundation.
The data represents the fourth positive Phase 3 pivotal trial for Epidiolex in treating Dravet syndrome and Lennox-Gastaut syndrome.
Epidiolex recently launched in the US and is now available by prescription. Leerink analyst Marc Goodman thinks Epidolex should be a blockbuster drug with sales of about $1.8 billion in 2026.
GW Pharma shares jumped 4.2% to $129.26 before the opening bell.
Contact Uttara Choudhury at [email protected]