Here's Why This Marijuana Drug Company's Stock Is Soaring Today
GW Pharmaceuticals gwph could be on its way to eventually winning the first U.S. approval for a marijuana-based prescription drug.
The U.K.-based biopharma on Monday unveiled more data finding that its investigational therapy Epidiolex, which is derived from a marijuana component called cannabidiol, or CBD, helped significantly reduce the number of monthly seizures suffered by patients with Lennox-Gastaut syndrome (LGS)—a rare disease that often strikes during childhood and usually causes debilitating epileptic episodes. It afflicts about 30,000 children and adults in the U.S., according to the LGS Foundation.
Shares of GW Pharmaceuticals spiked as much as 13% in Monday trading.
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Patients in a late-stage clinical trial had 44% fewer seizures when they were given Epidiolex in addition to their existing anti-epileptic drug regimens, while participants who received the placebo had a 22% reduction. The...
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